Brexit, Banking Complexities, and Supply Chains Hinder Growth

  • 71% of UK retailers want to expand internationally
  • 57% believe overseas expansion is risky
  • Brexit impacting international growth
  • 62% lack local banking and currency expertise
  • Lengthy supply chains and complex financial bureaucracy are challenges
  • 79% see opportunity for growth in international expansion
  • Legislation against money laundering and terrorist financing adds complexity
  • Technology partners can help with global expansion

Almost three-quarters of UK retailers are keen on expanding their businesses internationally, but many believe that overseas expansion is fraught with risks. A recent study by Laybuy found that Brexit has a significant impact on international growth, while other factors include lack of local banking and currency expertise, lengthy supply chains, and complex financial bureaucracy. Despite these challenges, 79% of retailers recognize the potential for growth in foreign markets. Gary Rohloff, co-founder and MD of Laybuy, emphasizes that technology partners can help overcome obstacles like managing currency exchange rates and dealing with regulatory requirements.

Factuality Level: 8
Factuality Justification: The article provides relevant information about UK retailers’ attitudes towards international expansion and their concerns, citing a recent survey as its source. It discusses various factors affecting international growth such as Brexit, local banking and currency expertise, lengthy supply chains, and financial bureaucracy. The quote from Gary Rohloff adds insight into how technology can help overcome some of these challenges.
Noise Level: 4
Noise Justification: The article provides relevant information about UK retailers’ views on international expansion and the challenges they face, but it could benefit from more in-depth analysis or expert opinions on how to overcome these challenges.
Financial Relevance: Yes
Financial Markets Impacted: UK retailers and international financial markets
Financial Rating Justification: The article discusses the challenges faced by UK retailers in expanding internationally, including concerns about local banking and currency expertise, lengthy supply chains, and complex financial bureaucracy. These factors can impact the growth of these businesses and their involvement in international markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.

Reported publicly: www.retailsector.co.uk