20 percent increase in export opportunities since the EU referendum

By Nell Walker
eProcurement system Applegate PRO has experienced a 20 percent increase in overseas tender requests. As the sterling pound has weakened, British prod...

eProcurement system Applegate PRO has experienced a 20 percent increase in overseas tender requests.

 

As the sterling pound has weakened, British products and services are cheaper overseas, giving UK manufacturing the chance to compete in foreign markets.

Despite the potential boost for exports from the drop in the value of sterling, Britain is still significantly behind the government target of £1 trillion of exports by 2020. The recently appointed Trade and Investment Minister, Lord Price CVO, stated: “The UK punches well below its weight in the export market and badly needs to improve.”

Stuart Brocklehurst, Chief Executive Officer of Applegate, commented: “With concerns over domestic demand, exports offer a great diversification of revenue for UK businesses. The decline in sterling means our goods and services are around a tenth cheaper for overseas buyers and with Applegate PRO, these opportunities can be accessed easily.”

Applegate PRO is being utilised by a wide range of companies across the world, including Airbus, SpaceX, General Dynamics, NATO headquarters and The White House.

A recent survey by the Federation of Small Businesses suggested that the number of small businesses exporting could double due to this drop in value, and cushion the economy from the uncertainty of leaving the EU.

 

Follow @ManufacturingGL and @NellWalkerMG

Share

Featured Articles

John Shier, Senior Security Advisor at Sophos, on ransomware

John Shier is the Senior Security Advisor at Sophos. Here, he discusses ransomware and the results of Sophos’ ‘State of Ransomware in Manufacturing’ report

How technology has improved Health & Safety in manufacturing

Johann Cilliers, Group Marketing Director at Welding Alloys, explains how technology has improved Health & Safety in the manufacturing industry

Nick Dinges, Replique CTO, explores additive manufacturing

Replique’s CTO Nick Dinges shares his knowledge on 3D printing, how localised production can help supply chains & what the manufacturing sector wants

Hanwha to spend US$2.5bn on US solar manufacturing

Technology

Hexagon invests in Divergent Technologies digital factories

Digital Factory

India’s smart manufacturing electric vehicle future

Smart Manufacturing