Four fifths of international business leaders think UK is a good place to start business

Brexit has ignited concerns about doing business in the UK, yet a study that Opinium Research carried out for Barclays recently has found that 78% of overseas business leaders think the UK is a good place to start business. 

The countries most optimistic about Britain’s potential to create the next Apple or Google include Brazil, (88%), the US (85%) and China (84%). Germany (64%) and France (68%) had lower levels of optimism.
Over three-quarters (79%) of international business leaders also said that they considered the UK start-up scene to be an ‘important global growth business hub for entrepreneurs’ and 82% would consider investing in a UK start-up.

Following the EU referendum, 61% of international business leaders say it will not impact the way they do business with British entrepreneurs. 85% believe British products and services will continue to offer good value, while three-quarters (74%) find the ‘Made in Britain’ brand highly attractive. Three fifths (60%) say Brexit will improve their trade dealings with British companies.

The top traits of UK entrepreneurs are reliability (53%), smartness and politeness (both 50%). However, less than a third (29%) find UK entrepreneurs to be passionate and inspiring and only 37% find them to be driven.

UK entrepreneurs are also considered to be too polite (62%) and 65% of overseas business leaders think they could be better at negotiating deals and at communicating with them. Over half (59%) also think that US start-ups are more likely to be successful than UK ones. Another negative was that while 87% knew of the US’s Silicon Valley only 65% had heard of the UK’s Silicon Roundabout. Nearly a third (30%) even thought it was a TV show.

Read more about this study here.