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Jul 26, 2019 | Media Coverage

A new trading map: preparing British business for a post-Brexit world

A new report shows UK businesses will be most likely to trade with the US, China and Canada after Britain leaves the EU – which means they must get up to speed with the intricacies of these markets

UK businesses are planning to widen their geographic reach after Britain leaves the EU, increasing their trade with the US, China and Canada. Western Union’s H1 FX Barometer Report, which surveyed more than 1,000 participants in businesses of all sizes and sectors, has found that almost half of small and medium-sized enterprises would prefer to do business with the US after Britain leaves the EU.

Meanwhile, one in four of the companies surveyed is planning to reduce trade with Europe within the next five years and do more business elsewhere.

At present, the EU is the UK’s largest trading partner, representing 44pc of all UK exports and 53pc of imports. The barometer indicates that future trading partners are likely to be far more widely spread.

Read the entire feature at The Telegraph (by Rosemary Bigmore)