“Dr.Liam Fox’s ‘exporting superpower’ idea is a good start to help British businesses compete on a global level.
A one-stop shop that mirrors the functionality of large ecommerce stores would increase the UK’s openness to trade. This could transform the success of UK PLC as it will make SME’s more easily discoverable by international traders, similar to the way that Alibaba has helped foster international trade with smaller Chinese businesses.
“Yet, this doesn’t tackle the longstanding failings of UK businesses, who have suffered from lagging productivity growth for too long. This has harmed our competitiveness to the point that even with a significant post-Brexit currency depreciation UK exports are struggling to achieve international competitiveness. The British government might be better focussed at trying to tackle our productivity puzzle. We need to create the right environment for technological transformation that increases the output of our companies and helps British exporters compete.
“Finally, the lack of clarity around the UK’s post-Brexit customs union strategy is making it difficult for UK businesses to conduct business. What international businesses want to see is long term security over our operating conditions, which we’re failing to provide.
“Even though we see Dr.Fox’s speech as a positive stepping stone, more actions need to be taken for further clarification and planning. Without that, Dr Fox’s best intentions will fail to deliver the desired impact.”