HALF of the South East’s exporters haven’t reviewed their exporting strategies as a result of the UK’s decision to leave the European Union last year.

That’s according to new research from Lloyds Bank Commercial Banking.

This is despite the fact that the EU is a trading partner for 91 per cent of the region’s firms that have exported in the past year and is the main trading partner for 57 per cent.

Of those that have reviewed their strategies since the referendum, a quarter said they planned to look further afield to take opportunities outside the EU.

But nearly a third planned to focus on domestic opportunities instead.

This creates a greater concentration risk on the UK economy and exposes companies to UK economic cycles.

Clive Higglesden, head of trade and supply chain product for Lloyds Bank Global Transaction Banking, said: “With a year since the vote and negotiations to leave the EU now underway, it’s concerning to consider that almost half of the South East’s exporters have yet to assess what changes may occur and what action is needed.

“Wait-and-see is not really an adequate strategy for the region’s exporters, and businesses should be acting now to manage any risks on the horizon and possibly explore new opportunities.

“However it is comforting that a quarter of firms are already looking at new markets.”