With all the uncertainty and negativity surrounding Brexit at the moment, many people are forgetting that there will be many benefits for SMEs and large businesses inside and outside of the UK. Without getting too political, this article will be highlighting some of the key benefits and new opportunities that Brexit will bring to businesses, and ways to capitalise on some of the changes to come.
How Will Brexit Impact Businesses?
So far there has been a lot of uncertainty whether the pros of Brexit will outweigh the cons for businesses. At the moment a lot of businesses are wondering what the future will bring and whether their business is likely to take a hit or flourish in Post-Brexit Britain. All we can do for the time being is take a look at the possible impacts and how it affects businesses in both positive and negative ways.
One impact many business owners know about is a possible skills gap. It is believed that employment is going to take a hit due to Brexit's impact on immigration. However, many employers will be using this as an opportunity to up-skill existing employees which can only have a positive impact on a business whose employees are diverse and committed to the company.
A positive impact that Brexit could bring is an increase in jobs. Despite there being a lot of businesses reporting staffing cuts and store closures recently, there could actually be an increase in jobs created by companies outside of Europe expanding into the UK. For example with Amazon's new investment into the UK markets, they will be creating around one thousand two-hundred permanent jobs in a warehouse equipped with advanced robotics. With many more businesses expanding into the UK, there will be a lot more opportunities in the future.
What Opportunities Will Come From Brexit?
Despite some of the negative impacts that Brexit will bring, there will also be a lot of opportunities for businesses to grow.
One opportunity that will arise from Brexit is the chance to widen your target market. With Brexit comes the creation of the UK's own independent trade deals and legislation. Currently, it is unclear what these deals and laws will look like, however, it is likely to give businesses more freedom when it comes to international trade which will give SMEs the chance to grow their presence in international markets.
There have been some unconfirmed reports that exporting could become cheaper post-Brexit. If this is the case, it would be the perfect time to expand your presence in international markets. With less red tape and lower export fees, you could grow your business presence internationally in no time.
The benefits are not only pertaining to British companies either. In fact, a lot of international companies have been pouring investments into the UK since the result of the referendum. According to an article from 'The New York Times', large motor companies such as Nissan and Toyota have said that they will be making large investments into their UK presence, with Nissan building new vehicles at their plant in Northern England and Toyota also upgrading their plant in the UK. Other businesses making sizeable investments include Amazon, Google, Apple, Wells Fargo and more. Qatar has also stated that they will be making investments of over $6,000,000,000 ($6 Billion) into multiple British sectors.
How Can Businesses Engage With International Prospects?
Expanding into new markets is easier said than done, especially when you're expanding into international markets that you're not familiar with. There are many ways of reaching your target audience in different markets, including various forms of marketing, advertising and more. One method of reaching your target audiences in international markets can be email marketing campaigns. Email campaigns are a really good starting point when it comes to the first engagement with a new audience. If you know what type of audience you want to reach and how to create engaging content for that particular audience, you can create a solid foundation on which you can build a relationship with your international audiences. Not to mention the low-cost options that email marketing offers. Another simple way of marketing your business in other countries is social media marketing. Social media marketing is one of the most used forms of marketing in today's digital world. With billions of users worldwide, it's a good place to start your engagement with clients. One of the most successful methods is telemarketing. Despite the stigma surrounding telemarketing, it has been proved to be an effective method of contacting your prospective clients across the globe. The reason that telemarketing works a lot better than other methods for increasing your presence in international markets, is because you are able to directly speak to your target market. With email marketing, you can be sending emails to your prospects for weeks, even months before they make an enquiry. But with telemarketing, you are actively seeking out new opportunities rather than waiting for them to come to you.
At Inspired, we have a lot of experience when it comes to helping businesses expand into new markets. Having worked with businesses from all of the UK and the world, from a wide variety of sectors, we have extensive knowledge of a range of industries. Our specialised, high-yield B2B lead and appointment generation services help businesses to engage with their prospects and increase their productivity and sales in various markets.