A clear majority of British firms are hungry to trade with non-EU countries outside the customs union post-Brexit, according to a new survey of 500 decision-makers. Most small and medium sized British companies say they are ‘internationally ambitious’ and wish to grow into overseas markets. New research from the International Business Festival finds:

• 74% plan to to increase overseas revenue in the next three years;
• 82% have a clear strategy for future target markets;
• Three quarters of firms describe themselves as ambitious internationally and well-placed to capitalise on global opportunities (77% and 73%).

UK small business underlined its concerns about regulation, which has been identified as the biggest barrier to increasing exports. In addition, businesses want more help making contacts in new markets and mastering technology. The appetite for global trade is strong ‘despite Brexit’. Number 10 needs to make sure we are not tied closely to a customs union that prevents this…