Britain’s decision to quit the bloc has left many small and medium enterprises (SMEs) unclear as to what happens next, with the uncertainty making it difficult to take short-term investment decisions. CEO of Newable, which offers business advice and premises to SMEs, Chris Manson told Express.co.uk: “What we are seeing is that the grey clouds of Brexit uncertainty are causing a number of UK businesses to rethink their overseas growth strategies. “Many of the businesses we are speaking to now, whilst not turning their back on Europe, are increasingly looking at the US for the first time, as a direct result of Brexit and how things are unfolding.
“The US is most certainly a land of business opportunity in terms of the shared language, culture and values.
“It has long been the UK’s number one export market and now the added uncertainty of Brexit just strengthens this case for SMEs looking to grow.”
As British businesses consider options in the US post–Brexit, Newable has launched America Made Easy, a partnership with leading American business services firm Avitus Group.
Mr Manson added: “We have over 60 businesses signed up for an initial workshop today, which gives you an indication of the appetite for growth across the pond.”
US President Donald Trump has suggested a trade deal is possible after the UK quits the bloc, suggesting earlier this year he was ready to boost trade between the two countries “very, very substantially”.
Mr Manson added: “Much has been said about the historical ‘special relationship’ between the two nations and it is clear that there is wealth of opportunity for British businesses looking to expand and make a success over the pond.
“SMEs currently make up over 99 percent of all UK businesses, forming the backbone of the economy and often delivering innovation that is lacking from larger businesses – so it is vital that we empower them to thrive.
“The added current impact of Brexit uncertainty means that we are starting to see more businesses looking further afield than Europe for their growth plans.”
Josh Balster, executive vice president of Avitus Group, added: “America Made Easy will become a natural extension of this, allowing UK businesses to break into the US market.”
Speaking last year, Daniel Ikenson, director of the Herbert A Stiefel Center for Trade Policy Studies at world-renowned US-based economic think tank the Cato Institute, toldExpress.co.uk Britain could retain close links with the EU AND bag a wide-ranging free trade deal with the United States after Brexit.
He said: “It’s definitely not a case of either/or.
“At the moment the UK is in a customs union so you cannot have your own extensive trade policy.
“The thing is once the UK has withdrawn from the customs union, does that mean the whole structure disappears?”
Mr Ikenson said in theory, quitting the customs union should not make too much difference to the UK’s trading relationship with the bloc, suggesting the arrangement could simply be converted to a free trade agreement with no tariffs on either side, leaving a structure which permitted a degree of regulatory alignment.
He added: “I’m not saying it won’t be costless but these sorts of deals are common practice.”