Our Trade Barometer research shows:
- that more than a quarter of UK businesses (26%) believe international markets will play a more central role in their future growth as a result of the coronavirus
- just 5% of companies say overseas trade has become less important.
A significant proportion of the UK business population sees new international opportunities as one way to mitigate the impact that the pandemic has had on demand and operational issues this year. Many businesses see red tape and post-Brexit regulatory changes as major obstacles to international trade and need to work out how best to approach new markets.Our research shows that almost half (48%) of those businesses planning to start operating internationally in the next 12 months, think that difficulties concerning how to choose the optimal market entry route have been a major barrier to their overseas expansion.