Coface has published a new report which suggests that, despite uncertainties caused by Brexit, UK businesses are showing resilience. In the last quarter of 2016, companies’ profits totalled over £105 billion pounds – an all-time high – and confidence rose significantly, especially amongst SMEs. In addition, Sterling’s sharp drop – the most visible sign of Brexit so far – explained the strength of exports, even if the benefits of price competitiveness remain slight. However, looking ahead Coface also warns that the forthcoming negotiation phase will test the current buoyancy of businesses, and business profits are expected to show a gradual decline. Coface estimates that UK business failures could rise by 8.7% in 2017 and 8% in 2018.