Lioncroft Wholesale CEO: 'To succeed, we must look beyond our borders'
Looking over the list, it is clear that the majority of these companies, spanning diverse industries such as fashion, travel, beauty, pharmaceuticals, finance and construction to name just a few, have not only achieved genuinely impressive sales growth over the past few years, but they have truly mastered the essential art of diversification, adapting their offer to suit the ever-diverse needs of a global audience.
These businesses recognise the need to look outside our own island. To succeed, we must look beyond our borders – we cannot only deal with ourselves and our near neighbours. Expanding into global markets is where the growth is, while enabling growth from overseas into ours. Currently, it doesn't matter how phenomenal our offer, product or service, without the ability to reach the international stage, success is limited.
I can't imagine there are many in business who aren't sick of the word 'Brexit' but please, bear with me, I will reference it just briefly. Since the decision to leave the EU, there is no doubt that doing business internationally has suffered significant setbacks. There are challenges now where there were none. There are problematic policies, processes and procedures that add complexity, time and costs that few businesses can easily bear.
So what is the solution? Well, we need trade deals that deliver. For all sides. And we need them now.
We need clarity. The time for talking must end, for the sake of economic success, we need action, and I was delighted to see the work carried out by Harjinder Kang, His Majesty's Trade Commissioner for South Asia and British Deputy High Commissioner to Western India, as it was announced that the British government had agreed a trade deal with India.
After four years of hard work, a deal has been concluded, marking a genuine milestone in the history of UK-India trade. As India looks set to become the third-largest economy by 2028, it is only right that we form a global partnership in order to boost growth across the UK.
Currently, bilateral trade between the UK and India is £43bn. According to Harjinder Kang, this deal will further increase it by more than £25bn, supporting thousands of jobs in both countries. For the UK, this looks likely to be an increase for the UK of around £4.8bn. Not a huge amount, but certainly not pocket change either.
The deal will reduce tariffs on UK exports to India such as cars and whisky, which will help to offset potential hard-hitting US tariffs. For consumers, it should result in cheaper prices and more choice - a win win in anyone's book, surely?
While there is much to celebrate with this trade deal, it also shows what we are missing elsewhere. As the UK-India trade deal also delivers clear, transparent and reliable customs procedures, timescales and commitments, it shines a light on the lack of clarity elsewhere, which is inhibiting our growth as a nation.
The UK currently has 39 trade agreements in place with 73 partners, but the UK-India deal is only the fourth new trade agreement signed since Brexit. There is much more to do. To support our growth, the UK must be seen as a favourable trade partner, to encourage others to agree to terms that work for all parties. Let's all shout about Brand Britain and make global business a reality once again.
Dr Jason Wouhra OBE is CEO of Lioncroft Wholesale, one of the UK's leading independent food and drink wholesalers. With two depots in Birmingham, Lioncroft supplies more than 10,000 retail and hospitality customers across the West Midlands and beyond. Dr Wouhra is also Chair of Unitas Wholesale, the UK's largest wholesale buying group, and is Chancellor of Aston University.
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