Where ever you go and what ever you do in business around the UK right now, the B word is there. And if there is one thing we can be certain of, it’s going to continue to be part of the narrative for years to come. For large manufacturing companies with complex supply chains the implications for the terms of the trade negotiations are critical, but our view at Digital Islands is that for most software and services business, the terms of the negotiations for companies in the EU looking to export into the UK are less significant. There may be some level of tariff, but there will be options in terms of how a business is structured that will minimise the impact.
The bottom line is that the UK is still the 5th largest economy in the world, and continues to represent a significant opportunity for SMEs.
If fact, there is a school of thought that there has never been a better time to focus on the UK market, while others from across the world are not. So act now, give us a call and discuss how we can assist with your UK market entry planning.
The UK Office of National Statistics is a great source of data on UK industry. There are two visualisations that show the concentration of different industries in different parts of the UK:
Click here to see a heat map showing the concentration of different of industry sub-sectors across the UK
Click here to see a visualisation of the relative importance of different industry sectors in each local area of the UK.
The immediate hit after the referendum in 2016 was on the € to £ exchange rate. That has started to creep back. Take a look at the graphic below, and see if you can plot the way that rates changed in the period since the referendum – click on the dot, and drag it to plot how you think rates have changed through to April / May 2017. Then click on the “How did I do” button.