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