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Asian business must communicate more effectively to secure post-Brexit interests – new APCO survey

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Asian and Chinese businesses which have financial interests in the UK and Europe should be doing more to highlight their engagement in a post-Brexit Britain, the leading communications and stakeholder company APCO Worldwide has said.

As the UK determines the timing and form of its exit from the European Union following a referendum vote, a new APCO poll of British people a highlights the complex environment facing foreign business and their corporate communicators.

While the survey results show considerable pessimism about the personal economic impact of realising Brexit, there is also a clear need for companies to highlight their ongoing commitment to the UK – including among Chinese and Asian companies who employ Britons or which have large financial investments in the country.

The poll, by APCO Insight, the opinion research consultancy at APCO Worldwide, found a 19-point gap between those who feel they will be worse off on leaving the EU (37%) and those who feel they will benefit (18%). A further quarter (27%) predict no change, with 20% unable to offer an answer.

Fears over the personal impact of Brexit could be linked to pessimistic views of the business climate, with more predicting negative rather than positive economic consequences for both UK-headquartered businesses and multinationals operating in the UK.

In a follow-up question, the main worries expressed were around the relocation of jobs abroad (37%), and foreign companies choosing to invest less in the UK (34%). Only a small proportion (13%) said they were wary of house prices falling.

James Acheson-Gray, managing director of APCO Worldwide’s London office said of the results:  “A lot of the post-referendum focus has been on the immediate economic impact, but we wanted to take a longer-term view. The considerable uncertainty over what happens when the country leaves the EU actually represents a communications opportunity. There is a chance for companies with a large footprint to underscore their commitment to maintaining jobs in the UK. Multinationals should also emphasise the scale of their investment. It has never been more important to highlight the role of the private sector in driving the British economy forward.”

The firm says these fears, coupled with shifts in government investment policy resulting from Brexit, will require Asian businesses to ensure they effectively communicate their commitment to future trading and investment relations with the UK – and engage their UK-based employees in this process.

screenshot-2016-09-12-14-25-33James Robinson, a Senior Director at APCO who has worked for the firm in China (pictured left), added: “APCO’s poll shows there’s an opportunity for Asian and Chinese-owned firms with an interest in the EU and UK.  With heightened anxieties about the economy, Chinese companies have never been more important to the UK.”

Robinson said that underscoring their commitment to the market today “will create a very positive platform for future investment, trade and growth in the future”.  “Equally, Asian and Chinese businesses with UK operations should make their commitment clear to their British employees,” he told PublicAffairsAsia.