Majority of B2B organisations plotting new ways forward after COVID-19 and Brexit negotiations
IBA International, a leading B2B marketing communications consultancy has announced the findings of a primary research report on how B2B organisations are proactively adjusting to implement new ways to do business following the Covid-19 emergency and Brexit trading changes. The research which covered a weighted sample of over 1,000 B2B organisations found that many businesses have developed new solutions and switched their industry or product focus during lockdown and have an appetite to penetrate new international markets post-Brexit.
The vast majority (86%) of those surveyed have altered their product roadmap due to COVID-19, while just under a third are considering expanding into new geographies or industries. While a noticeable minority (17%) of UK respondents are not looking to do business outside the UK, when asked about post-Brexit plans, 59% of UK-based organisations would look to export their goods and services if favourable trade agreements were made with countries outside the EU. From the outside looking in, 46% of respondents from the U.S., Australia and New Zealand said favourable agreements between their country and the UK would encourage them to export their goods and services there.
Data for the study was collected through Cint, the market research technology company that operates the world’s largest sample exchange. The study spanned hundreds of B2B organisations in various major industries across the UK, U.S., Australia and New Zealand between August and September 2020.
“This data spotlights the adaptability and resilience of B2B organisations across the globe, as they react to the shock of COVID-19 and the impending uncertainty around Brexit,” said Judith Ingleton-Beer, CEO, IBA International. “Contrary to the predictions of some industry commentators, this research report shows B2B organisations are reacting to the current setback by unlocking new revenue streams through their product lines, industry focus and geographic targets.”