How a robust trade function can help businesses leverage opportunities

With the Brexit agreement delivered, attention has now turned to how businesses globally will respond to change. Though not every industry is affected by Brexit, industries that engage more in international trade are noticing remarkable changes. While it’s too soon to determine the full impact of Brexit on businesses, it is clear that challenges are exacerbating the trade environment disrupted by the COVID-19 pandemic. British businesses must prepare a resilient international trade strategy to help them survive and thrive in this unprecedented transition period. With appropriate trade functions and resilient trade strategies, businesses will emerge stronger and more profitable.

Key takeaways:

• Brexit is just one of the many issues that are coming down the road at businesses globally. However, businesses do not feel that they can handle government affairs and engage with governments.
• One silver lining in Brexit is that it gave British businesses once-in-a-generation opportunity to review their operations. These reviews helped businesses respond to the COVID-19 pandemic, particularly around supply chains.
• Countries with fast-growing populations or working-age populations, such as Indonesia, Malaysia, Egypt, Mexico, Nigeria and Kenya, are more likely to have a critical place at the global league table.

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