Dyson remains “enormously optimistic” about UK business post-Brexit

The company’s founder Sir James Dyson has suggested that the UK’s success will lie largely in fast-growing markets outside of Europe such as Asia.

Sir James Dyson has suggested that UK businesses should focus on developing trading relations with countries outside of Europe in post-Brexit Britain.

The entrepreneur, Dyson founder and prominent Brexiteer says he is “enormously optimistic” about trading with the rest of the world after the UK leaves the European Union (EU), particularly in expanding markets such as Asia.

“Europe’s only 15% of the global market and the really fast-expanding markets are in the Far East,” Dyson said in an interview with the BBC, ahead of Theresa May triggering Article 50 this week.

Calling himself a “patriot”, Dyson also emphasised the importance of “reconnecting with the Commonwealth” when it comes to trade, as well as “staying friends” with Europe. “We can do both,” he added.

Increased sales and profits

Dyson’s comments came as the engineering company announced increased profits since the EU referendum result last June. Annual profits reportedly increased by 41% to £631 million in 2016, with sales of Dyson’s products increasing by 45% to £2.5 billion.

Popularity in fast-growing Asian markets is cited as one of the main reasons for the rise in sales and profits, with a growth of 244% in China, 266% in Indonesia and 200% in the Philippines.

In February Dyson opened its first research and development (R&D) centre outside of the UK in Singapore.

The company is also set to open a new multimillion-pound research centre in Wiltshire, England and a university at its existing Malmesbury campus in the Cotswolds with the aim of tackling the UK’s engineering skills gap.

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  • e.b March 28, 2017 at 11:33 am

    This is good to hear and a change from the extreme opinions of the Remoaners who would title Dyson a racist and Trump voter. Brexit will retain our ability to connect with the whole world, and with better control of our own issues and economies. I’m hopeful the resulting trend will reduce the gap between rich and poor within Britain.

    • DH March 28, 2017 at 1:30 pm

      We wouldn’t be a democracy if we (insert playground insult here) weren’t treating Brexit with the same scepticism as Eurosceptics treated our relationship with the European Union.

      Let’s hope for the best, but all sides reserve the right to be sceptical as issues are far more nuanced than EU=Good/Bad

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