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Creditfix LB 03-2017

UK Consumers Want to Buy British

Half of UK consumers intend to make a conscious effort to buy from British businesses and British brands during the two-year Brexit negotiation period, to help support British business through the process.

New research from peer to peer share trading platform Asset Match of 2,000 UK adults has shown that consumer confidence towards British businesses is high following the trigger of Article 50 to start the Brexit negotiation period to leave the EU.

Over half (53 per cent) believe that Brexit will open up new opportunities for British companies to expand globally, and 46 per cent are confident that the UK will emerge from the process in a strong economic position, with a further 28 per cent thinking that there will be no difference.

Older respondents were particularly confident, with 57 per cent of the over 55s predicting that Brexit will actually boost the UK economy.

The research also showed the general public feeling that the Government’s Brexit agenda is primarily focused at supporting the nation’s business landscape as a priority over surrounding factors, with 43 per cent of all respondents to the survey believe that British businesses will benefit from Brexit more than any other group in the UK.

Co-CEO of Asset Match, Stuart Lucas, commented: ‘When Britain voted in favour of leaving the EU, there was inevitable uncertainty around what this would mean for consumers and businesses. Nine months on and with Article 50 now triggered, it’s clear that there is a far greater sense of optimism and drive among the UK public in favour of the growth opportunities made available to the UK’s scaling businesses.

‘The data has revealed that society deems last year’s referendum result as a Brexit for business, with the significant majority confident in the path Brexit will forge for private sector prosperity. During this vital time of transition, it will come as welcome news for any British company or brand that consumers are rallying behind them at a time where consumer support could not be more important.’

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