R E G I O N A L R E V I E W
R E G I O N A L R E V I E W
Capitalising on new opportunities
With strong financial foundations, UK SMEs can remain agile and ready to capitalise on market opportunities as they arise. Take businesses that operate in manufacturing, heavy machinery or petroleum, for example, they could use uncertainty within the Mexico-US trade corridor to expand industrial exports at more competitive prices.
Alternatively, if demand for UK goods decreases with tariffs, this may give these SMEs the confidence to seek out new trading partners and expand into untapped markets. This is already happening. At the end of last year, the UK joined a trade pact with several countries in Asia and the Pacific. If UK SMEs are to scale in these regions, they’ ll need support in managing their cross-border payments and foreign exchange risk to ensure a safe and stable launch.
The path to collaboration
Across the UK, support for free and international trade remains strong, despite the economic challenges posed by President Trump’ s policies. In fact, 72 % of Brits say they want to encourage more international trade in the coming years, even if it increases domestic competition. As many as 71 % said international trade makes them feel positive, while 76 % said the same for free trade, and 60 % for exportation.
This affection for a fair-trade environment is not going anywhere time soon, and so while it remains to be seen how the UK will work with the US, SMEs must implement strategic measures to protect against any harmful tariffs. Against this backdrop, confidence to operate and scale requires a firm handle on finances, risk mitigation and clear visibility into international transactions. �
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