UK Market sectors with opportunities
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A level playing field in the UK
We all know the British (the UK) invented sports like Football, Rugby and Cricket. Quintessential good manners and fair play since the Industrial Revolution. Now, why bet on the UK in the 2020s?
The United Kingdom, a top ten, mature and secure economy, has left the European Union (EU) and is looking for a new place in the heart of the World. A free-market trading nation, it imports according to consumer and supply chain needs, with a strong credit rating, business-friendly legal and legislative system.
|
Factor |
Data (2018/19) |
|
Population (est; ONS) |
66.4 million |
|
Urban/Rural |
82.8%/17.2% |
|
Working Population % |
62.7% |
|
Unemployment % |
+/- 4% |
|
GDP (USD) |
$2,828 billion |
|
GDP per capita (USD) |
$42,579 |
|
Growth rate |
1.4% |
|
Imports (USD) |
$669.6 billion |
The top imports to the UK, per country of origin, vary as the UK consumer has a taste for German cars and many kinds of international premium goods, whereas UK business and public services require machinery and electronic equipment, as well as high-tech medical goods, including pharmaceuticals and technical equipment.
The effect of Brexit will likely be to open up the UK to imports from non-EU countries of origin, more so than in the recent past. Much of this will be as a result of UK determination to build reciprocal trading links and relationships, particularly with fast-growing countries worldwide. The UK’s relationship with the EU will change, but as a large economy, the UK market will remain intrinsically attractive.
London-centric, but “levelling-up”
The UK is significantly London-centred, with a very strong Financial Services expertise, but the UK Government has become increasingly aware of the need to “level-up” the regions to the North and the South-West. High-profile but long-term projects, such as modern HS2 rail capacity, will not deliver the required “levelling”, so much as YOU looking for great opportunities – inside or outside London!
The World Bank “Doing Business” Rankings list the UK at No.8 for doing business, and No.18 for starting a business.
Top Imports to the UK:
- Machinery $87bn
- Vehicles $75.1bn
- Electronic Equipment $69bn
- Mineral Fuels $66.9bn
- Pharma $30.3bn
- Plastics $19.5bn
- Med Tech Equipment $18.8bn
(2018 BEIS figures)
UK Market Sectors with opportunities:
The UK has an excellent (and, recently, better-funded) University sector, which generates research and development activity in sciences and materials.
Ever a nation of inventors, the international debate around the Global Climate Crisis is likely to trigger problem-solving enterprises, combining UK input with worldwide applications of technologies.
The UK also has a leadership role in the World, with a likely trend towards increased spending in specialist capabilities for military peace-keeping.
Conclusion:
From a history in mining, industry and sea-faring, the UK has brought the World so many team-sports, like Cricket, Rugby and Football, and now welcomes the World to trade inventively and with imagination. The key word is “Opportunity”.
