Meanwhile 43 per cent of the almost 800 company directors surveyed reported seeing most growth for their business in the EU over the time period, while only 21 per cent pointed to each of North America and Asia.
“Our members are already showing the strength of British business on the world stage, but the statistics also show that we need to get real about trade, and fast,” said the IoD’s head of Europe and trade policy Allie Renison.
“Going global is as much about opportunities in Europe as it is further afield, and this should be reflected in how the Government shapes post-Brexit Britain.”
Though company heads saw potential in North America and Asia over the five years, the EU remained the region with the highest expectations for growth.
The government must remember this and consult businesses to create a "comprehensive trade agenda" over the next 18 months, the IoD said.
In particular it urged the government to prioritise labour mobility in the upcoming Immigration Bill, saying the Prime Minister must ensure immigration remains a cross-departmental subject with input from the Department for International Trade.
"At some point the government will have to stop ignoring the warning signs about their policy to tear us out of the European Union," said the Liberal Democrat party's Brexit spokesperson Tom Brake.
"Yesterday the Prime Minister once again dodged the question about whether she believes Britain will be better off after leaving the EU. Instead of dodging the question May should listen to the Institute of Directors, and dodge the cliff edge by protecting businesses and maintaining unfettered access to the world’s largest market." [...]
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Institue of Directors' Going Global - full report
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