© Copyright Acquisition International 2025 - All Rights Reserved.

Article Image - New research shows 88% of businesses trading internationally haven’t looked at switching their supply chains pre-Brexit
Posted 7th December 2020

New research shows 88% of businesses trading internationally haven’t looked at switching their supply chains pre-Brexit

With less than 30 days to go until the UK leaves the EU, it’s vital that businesses get ready for the transition that will take place.

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

New research shows 88% of businesses trading internationally haven’t looked at switching their supply chains pre-Brexit
supply chain

Across the UK, businesses have spent the last six months adapting to the ‘new normal’, changing their ways of operating to keep their employees safe, whilst keeping their business healthy. With this alteration in the ways of working looking likely to remain for some time, moneycorp Bank conducted research with over 170 businesses that are trading internationally, to understand how they are preparing for the future, with Covid-19 still present, and Brexit on the horizon.

The Covid-19 outbreak has had a significant impact on British businesses. Whether positive or negative, the overwhelming majority of companies have found that there’s been a complete shift in their day-to-day running – be it with the end-consumer or their supply chain.

While 18% of UK businesses trading internationally saw an uptick in demand, others have experienced the pandemic very differently, the research shows:

  • Over a half (52%) have suffered from reduced demand
  • 30% have suffered delays and uncertainty over the arrival of goods
  • 17% have reduced the volume of products ordered through specific suppliers
  • 10% saw a reduced web traffic
  • 6% found that they had to order through more costly suppliers

Consequently, there’s been a whole range of steps businesses have taken in order to shore up operations, and in fact, 43% have said that they’ve changed their business model altogether as a result of Covid-19.

We found that other steps businesses have taken have ranged from creating a comprehensive emergency operations centre, redesigning supply chains with local sources and second sources, to mapping suppliers to assess vulnerabilities and running outage scenarios to assess the possibility of unforeseen impacts.

Despite having made changes to adapt to the challenge of Covid-19, the research shows that businesses haven’t explored ways to safeguard their supply chains to mitigate the risks, and benefit from the opportunity that Brexit could bring. 88% of UK businesses trading internationally have admitted that they haven’t looked and aren’t going to look at switching their supply chains in preparation of Brexit.

With the Brexit deadline looming, and trade talks still ongoing, the results show that many British corporates aren’t thinking ahead to how Brexit may impact their supply chains. In order to utilise Brexit in the most beneficial way, particularly when it comes to international trade, they need to be prepared.

Lee McDarby, Managing Director of Corporate Foreign Exchange and International Payments at moneycorp commented:

“This year has been difficult for the majority of UK businesses, and the impact of Covid-19 can’t be downplayed. However, by focusing on the impact of the pandemic, many entities are taking their eye off Brexit, which could cause even greater disruption further down the line.

“With less than 30 days to go until the UK leaves the EU, it’s vital that businesses get ready for the transition that will take place. Fundamentally, the way we conduct business will change. Companies need to understand how this change will impact their operations, and what mechanisms need to be put in place to ensure they thrive post-Brexit. One thing that businesses can be sure of, as the 31st December approaches, is turbulent market winds. Now is the time to be assessing your currency exposure, to ensure international supply chains do not end up eating into British businesses’ bottom line.”

To keep up to date on how they could be impacted, moneycorp Bank is encouraging all UK businesses to visit the government website for live updates.

Categories: Strategy


You Might Also Like
Read Full PostRead - Eye Icon
6 Strategies to Maximize Customer Engagement Through Corporate Email Campaigns in 2024
News
08/07/20246 Strategies to Maximize Customer Engagement Through Corporate Email Campaigns in 2024

Image Source: Pexels Most trending innovations, like corporate email campaigns, continue to soar high in 2024 as a reliable cornerstone for maximizing customer engagement. With new technologies and strategies sprouting fast, catching up and staying ahead needs

Read Full PostRead - Eye Icon
After Slow Growth Yelp May Go Up For Sale
Strategy
15/05/2015After Slow Growth Yelp May Go Up For Sale

Could yelp go up for sale? Customer feedback and review site, Yelp, struggles with slow growth.

Read Full PostRead - Eye Icon
Driving Tomorrow: LeddarTech’s Revolutionary Path in Automotive Software Technology
Innovation
19/12/2023Driving Tomorrow: LeddarTech’s Revolutionary Path in Automotive Software Technology

Founded in 2007, LeddarTech Inc is a global software company based in Québec City, that also has a strong presence in Montreal, Toronto, and Tel Aviv, Israel, thanks to its additional R&D centres in these locations.

Read Full PostRead - Eye Icon
HMRC splashes a quarter of a million training staff to be hackers
Strategy
20/05/2021HMRC splashes a quarter of a million training staff to be hackers

HM Revenue & Customs has spent £262,251 on cyber security training for its staff over the two most recent financial years, according to official figures. This data was obtained and analysed under the Freedom of Information (FOI) act by the Parliament Stre

Read Full PostRead - Eye Icon
Accelerating Subscription Business Growth With AI
Innovation
07/08/2024Accelerating Subscription Business Growth With AI

Customer retention is a top priority for businesses with subscription-based models. However, subscription business leaders are often challenged with turning their enterprise customer data into targeted interventions that result in retention improvement.

Read Full PostRead - Eye Icon
Corporate and Commercial Legal Services
Legal
29/02/2016Corporate and Commercial Legal Services

Greenaway Scott is a specialist firm of business lawyers offering a wide range of services.

Read Full PostRead - Eye Icon
Team Building – is Sailing the Answer?
News
03/01/2023Team Building – is Sailing the Answer?

No matter how big or small your organisation is, there is always a call for creating a better team environment. This aids not only better communication between departments (which can make for faster and better solutions to business issues) but also increased r

Read Full PostRead - Eye Icon
Increased responsibilities are pushing IT to breaking point
Innovation
19/11/2020Increased responsibilities are pushing IT to breaking point

IT is now an innovator as well as a caretaker in mid-market organisations, but increased pressure is driving teams towards burnout.

Read Full PostRead - Eye Icon
5 Top-Rated Advisory Services for Mergers and Acquisitions
News
25/03/20255 Top-Rated Advisory Services for Mergers and Acquisitions

Mergers and acquisitions can drive remarkable growth, but they’re sometimes challenging to understand. Getting expert help from a qualified, knowledgeable advisor is crucial if you hope to maximise your returns and avoid complicated tax and legal issues.



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have a number of unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow