As a turbulent 2016 draws to a close, a new study of the UK's 1,223 largest alcoholic drinks wholesalers and distributors highlights five things owners and directors must do in 2017.

• Learn from the successful
• Beware of Brexit
• Assess your business value 
• Go in search of higher margins 
• Monitor those failing in the market and exploit their weaknesses

David Pattison, Plimsoll's senior analyst, gives his views on the reasons why knowing the answers to these questions will help improve your competitive advantage in 2017. 

• Learn from the successful

Highlighted in the study are 53 firms that are performing well in the market, achieving impressive sales growth and delivering healthy profits. These firms are getting it right in the market and are setting the standards for financial performance.

• Beware of Brexit

As the Government's Brexit plans start to become more apparent, the Plimsoll Analysis has assessed the 193 businesses that could be most affected by Brexit. How will the industry's largest exporters cope with potentially restricted access to the single European market?

• Assess your business value

In a time of change in the market, all business leaders should maintain a strong awareness of their businesses value. We have identified 99 firms where their value has fallen by a third and many of these businesses need an injection of capital.

• Go in search of higher margins

Key to ar company's long-term success is good profitability and 50 firms named in the analysis are delivering margins averaging 7.4% - showing that real value can be added in a market. Understanding how these firms are structured and their business models will prove vital to future profitability.

• Monitor those failing in the market and exploit their weaknesses

The year ahead will not be without causalities. Named in the analysis are 219 firms whose risk of failure in 2017 is higher due to their low financial health. Two important lessons can be learned from these firms: Learn where their weaknesses are, and understand how the problems started in the first place.

Plimsoll's industry report, Wines, Beers & Spirits Wholesalers (UK), provides an individual analysis of each company, showing their strengths and weakness, as well as showing the fastest-growing, those in decline and those making the most profits.