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Entrepreneurs Panel

Debbie Pierce
Charlie Mullins
Tony Caldeira
David Pollock
Steve Purdham
Brian Hay
Jeremy Roberts
Julie Meyer
Laura Tenison
Jennie Johnson
Richard O'Sullivan
Michael Oliver

Lack of confidence in eurozone "holding businesses back"

Businesses in the North West are missing out on European trading opportunities due to a lack of confidence.

This is the view of Rodolphe Soulard, senior European business adviser at Enterprise Europe Network North West (EENW), who said that many companies in the North West are "overly cautious" despite the fact that Europe is "still largely an untapped trading mine".

“Many parts of Europe are maintaining a strong economy and experiencing exceptional growth, " he added.

The EENW said that a lack of confidence in the eurozone, combined with difficulty understanding foreign trading markets, are the two main barriers preventing companies from exploiting major growth opportunities within Europe.

It suggested that firms in the region may be missing out on the multiple benefits of trading with the EU including improved productivity and increased profitability.

The likelihood of market survival is also increased significantly by reducing dependence on the UK market and helping to extend the product lifespan.

Soulardadded, “UK goods and brands are a much sought after commodity in Europe. Right here in the North West we produce some of the highest quality products available within the global market.

“Technology, chemicals and construction materials and machinery are currently the top three products in demand by European markets.

"Medicinal & pharmaceutical products, inorganic and organic chemicals, metalliferous ores & metal scrap, petroleum and related products and materials, are also showing significant strength."

According to research from HM Revenue and Customs, the biggest export markets for the North West are France, Germany, The Netherlands and the Republic of Ireland.

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