London based digital marketing agency, AccuraCast, has today announced that although global cross-border commerce is set to grow by 280% in the next five years, Brexit is preventing UK businesses from doing so.
The research, commissioned by AccuraCast’s Global Growth Lab, which was established in September to help businesses flourish across borders, found that the majority (33%) of those surveyed felt that Brexit made it too complicated to grow globally. In Scotland, this is a bigger issue, with almost half of respondents citing Brexit as a blocker for global growth – a sentiment shared by 43% of respondents in Northern Ireland.
The survey also found that professionals feel a lack of guidance, together with the belief that marketing internationally is too expensive, are also obstacles, with a quarter of those surveyed citing these as challenges to trading overseas.
The results follow up on research undertaken by the company 12 months ago which revealed that although 55 per cent of businesses cancelled or delayed plans to export to overseas markets or trade internationally, 51 per cent said that their view on the importance of international trade had increased, demonstrating clear intent and ambition.
MD and Founder of AccuraCast, Farhad Divecha says: “The past two years have obviously been very difficult for UK businesses – first with Covid preventing them from expanding, and now Brexit. But from our 17 years of global business experience, we know it’s not impossible.”
He continues: “Having supported leading brands like LG, UFC, Disney, Penguin Books, and PwC grow faster in every market, we can also help businesses who are looking for strong guidance or are under the impression that it’s too expensive to sell overseas. After a terrible two years, we’re making it our mission to help UK businesses overcome growth obstacles and truly reach their full potential.”
Farhad brings over 20 years of global business know-how to Global Growth Lab, having worked on campaigns for giants including CenterParcs, Emirates, and UEFA. With the ability to speak five different languages, a degree from India’s VES Institute of Technology and an MBA from the University of Illinois at Urbana-Champaign, his experience is authentically international.
AccuraCast established the Global Growth Lab in September 2021 to help businesses realise that considering expanding globally, regardless of size, is a feasible business objective, and help them do so.
For more information on AccuraCast’s Global Growth Lab, please visit http://globalgrowthlab.com/.