The UK businesses that could see a boom in sales after Brexit -https://inews.co.uk/author/rebecca-jones/
Experts agree it is uncertainty over the nature of the UK’s exit from the EU that is harming business and investment sentiment the most, with the UK’s smallest firms feeling the brunt of reduced confidence.
The good news, however, is that when certainty does come, the UK’s smaller business landscape could blossom in a post-Brexit Britain, with a number of sectors perhaps benefiting from our EU exit.
Below we list the small business sectors that could boom after Brexit.
The technology scene is one of the strongest business areas in the UK. There are 15 so-called ‘unicorns’ – unlisted tech start-ups valued over $1bn – making the UK the third biggest market after the US and China. The tech sector is also an area that has continued to grow strongly since 2016 – even through Brexit negotiations.
Exporters to non-EU countries
A weaker pound has been a boon to some UK businesses, including smaller exporters that have been able to be more competitive on price than EU rivals. However, cheaper prices are not necessarily the only advantage UK manufacturers might have in a post Brexit-Britain, with many arguing that Brexit could open up new trading opportunities.
As highlighted by the government’s recent Patient Capital Review, the UK’s health and life sciences sector is one of its greatest entrepreneurial assets. Turnover in the sector – 85 per cent of which is made up of small businesses – surged to £70bn in 2017 as Britain attracted the highest level of investment into life sciences in Europe.
As a region, the North of England voted in favour of Brexit, with some seeing this as a signal that – economically – Northerners already feel quite separate from the EU.
While this remains up for debate, some Northern regions are proving to be potentially more flexible and resilient to Brexit, particularly manufacturing areas like Blythe Valley that is leading the way in robotics, or Manchester – fast becoming a global digital hub.