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East of England businesses looking to China and Australia for post-Brexit exports – research

Two out of three East of England business leaders in the mid-market are looking beyond Europe for export growth, says Mills & Reeve. Picture: Andrew Matthews/PA Wire

Two out of three East of England business leaders in the mid-market are looking beyond Europe for export growth, says Mills & Reeve. Picture: Andrew Matthews/PA Wire

More than two-thirds (68%) of the East of England’s mid-market businesses are looking to increase exports beyond Europe because of Brexit, according to research.

Top 100 partner, James Hunter, Mills & Reeve. Picture: DENISE BRADLEY Top 100 partner, James Hunter, Mills & Reeve. Picture: DENISE BRADLEY

China and Australia are among the most popular targets, says Mills & Reeve’s Defying Gravity report, which also found 60% of leaders admit that a ‘no deal’ outcome in EU negotiations would harm their business.

Despite the difficulties – which includes 62% reporting falling demand – 83% of firms in the mid-market plan to increase turnover this financial year, by an average of 22%.

James Hunter, head of the firm’s Norwich office, said: “Despite current uncertainties surrounding Brexit, it’s encouraging to see leaders remaining buoyant and setting their sights high for the future. This confident but flexible approach will help mid-market businesses keep their position as the driving force of the British economy.”

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