New Energy Industries Council Report Shows Companies Lack Appetite for Export Despite Prospect of a No Deal Brexit

In 2019 only 12% of companies interviewed exported their way out of a crisis compared to 19% in 2018. In 2019 only 12% of companies interviewed exported their way out of a crisis compared to 19% in 2018. The'Survive and Thrive 2019 Insights Report'published by the EIC, provides a listing of companies and detailed analysis of eight strategies they have employed to grow against a backdrop of a cautious oil and gas market recovery, growing focus on decarbonisation, and Brexit uncertainty...

LONDON, 08/08/2019 (informazione.news - comunicati stampa - energia)

In 2019 only 12% of companies interviewed exported their way out of a crisis compared to 19% in 2018.

The published by the EIC, provides a listing of companies and detailed analysis of eight strategies they have employed to grow against a backdrop of a cautious oil and gas market recovery, growing focus on decarbonisation, and Brexit uncertainty.

 "Our research shows Brexit is a having more of an impact now. Sometimes positive, companies who are net exporters are really seeing growth benefitting from the weak sterling. On the negative side, more companies are getting frustrated by the lack of inaction around Brexit, damaging their growth prospects in new export markets and Europe in particular. There is a real possibility UK suppliers may need to look for new markets soon."

The strategies put in place in the 2019 edition of Survive and Thrive have generated a massive £1.8bn in savings and new orders.

The EIC recently held its inaugural Energy Exports Conference in Aberdeen as a key action in light of the findings in this and previous years' reports, aiming to kickstart export growth in energy, and inspire the next generation of exporting business leaders, by attracting major operators such as Aramco, ADNOC, BP, Petronas, Shell and Wood who presented more than US$150bn of global project opportunities requiring UK products and services.   

: https://www.the-eic.com/portals/0/Website/Publications/InsightReports/SurviveandThrive3-report.pdf

: https://youtu.be/zKyTpgP44cE

The eight strategies being put to good use by the companies surveyed are: innovation (the most used strategy at 64%), followed by service and solutions (60%), optimisation (48%), diversification (36%), digital (32%), technology (28%) and export (once again the least used growth strategy at 12%).

 

Lucy Chakaodza
Communications & Media Manager
Tel: +44 (0)20 7091 8638
Email: lucy.chakaodza @the-eic.com 

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