The keys to success — five years on from Brexit

Brexit’s official fifth anniversary was eclipsed on 31 January this year, and — for some businesses — international trade is still a point of great frustration. Brexit, for many British enterprises, has been more shock and less awe. A recent LSE study revealed that the UK lost £27 billion in trade during Brexit’s first two years, with the value of British goods exports falling by 6.4% and total goods imports by 3.1%.

However, some managed to forge a path through the initial confusion as the UK began to acclimatise to new trade opportunities with the rest of the world. One of these business trailblazers was Barry Leahey, president of Playdale Playgrounds, which specialises in educational play equipment.

A Made in Britain manufacturer that produces a range of traditional and inclusive playground equipment, Playdale’s international trade success under Mr Leahey landed him the award of Export Leader of The Year 2024, as well as a Northern Leadership award.

The UK Government’s economic focus for the current term has been consistently stated as growth – prioritising investment and stable trading with the rest of the world. As a shining example of growth and stability trading overseas, Machinery Market interviewed Leahey for his advice on how other UK businesses can maximise post-Brexit trade opportunities.

Mr Leahey said: “Thanks to the free trade agreements (FTA) signed after Brexit, the UK’s trade potential is most definitely good – if not greater – than it was immediately after leaving the European Union (EU). However, a huge part of this potential lies within Europe, and it will take time to maximise the new FTAs and find new ways to work with the EU successfully.”

“I believe perceptions are beginning to change. We are finally coming out of that transitional stage and instead we are now entering the stage where people are beginning to forget how things used to be, and instead businesses are acclimatising to the ‘new norm’. Generally speaking, we are very analytical in our decision-making at Playdale. Most recently, I believe our decision to find a partner in Japan will be very lucrative for us in time, helping us to secure further trade outside of Europe.

Tools and resources available
“I am particularly proud of the fact that the Cabinet Office now use us as a case study. Our strategy for finding international trade partners has been a key part of why we are being asked to help other businesses through post-Brexit trade. The most significant hurdle for SMEs is having the bandwidth and resources to understand exactly what the new logistical changes and laws mean for their industry. At Playdale, we have taken the time to learn how to use the tools and resources available to UK businesses to simplify the transition.”

Mr Leahey continued: “The logistics are a challenge for SMEs – all the associated paperwork is the biggest change for the sector. The way we have to trade with Europe is now different, however, Playdale was already dealing with the rest of the world on this basis so it was easier for us to adjust to these changes. We regularly talk to the Department of Business and Trade team and attend webinars on important subjects, which helps us get to grips with changes fast.”

“It is important to have confidence in the fact that Great Britain will always be a fantastic historical brand – especially when boosting your reputation when trading abroad Both before and after Brexit, it still holds true that being a Made in Britain business tells consumers and partners that your products are tried and tested to the highest standard and manufactured by a skilled workforce. This in turn holds the potential to open doors in international trade, but don’t forget that ultimately it is the company’s values and procedures that make things happen.”

Progressive mindset
Mr Leahey added: “The world is a very competitive place – during the Covid-19 pandemic it may have been tough for trade, but many countries had a progressive mindset during this time and honed their focus on digital marketing and manufacturing automation. The result of these sudden changes have just made the landscape even more competitive.”

“Diversifying your exports to a wider range of countries and cultures beyond the EU means you have to be prepared to compete on more fronts than ever. Strategy-wise, that means strengthening your brand identity and being ready to adapt to international tastes and markets.”

He concluded: “In the future, politicians will continue to open more doors, but it will be up to British business leaders to work hard delivering on their individual business strategies to grow on the world stage. It is possible – here at Playdale we are proof of that – but it all comes down to being analytical in your decision-making, setting out a clear strategy, exploring new opportunities in countries that you believe will be lucrative for your business sector, and after all that, it will come down to how much you want to make it work.”

By the end of the present Government’s first term in office, the UK will have passed the Brexit deal’s 10th anniversary. Only time will tell how British trade will have evolved by then, but one thing is for certain – the pioneers of Britain’s international trade will have to be bold, not complacent.