71% of UK exporters say the UK-EU trade deal “is not enabling them to grow or increase sales”. That’s the findings of the British Chambers of Commerce, which surveyed over 1000 businesses.
A minority of respondents (8%) said that the trade agreement is ‘‘enabling their business to grow or increase sales”.
A previous BCC survey, conducted in October 2021, found that nearly half of UK exporters were having trouble adjusting to Brexit.
The BCC recorded 320 comments regarding the disadvantages of the deal. These include the rising costs for both companies and clients; EU customers are reconsidering UK goods due to additional cost and complexity of trade; small businesses are struggling with bureaucracy after Brexit.
More positively, there were 59 comments regarding the benefits of the deal. Respondents said the deal enabled them to trade without significant changes; it had encouraged firms to look to global markets; and following the deal, firms had the stability to plan ahead.
In a press release, the BCC says that small businesses are particularly hard hit by Brexit.
“Nearly all of the businesses in this research have fewer than 250 employees and these smaller firms are feeling most of the pain of the new burden,” said William Bain, BCC Head of Trade Policy.
There can be no question that any business trading between the UK and EU faces new obstacles, even at this relatively late stage.
While many larger firms have made adjustments to help manage the new reality, small businesses are still struggling with the added cost and bureaucracy.
If you’re struggling with post-Brexit bureaucracy, there’s an elegant outsourced solution.
Brexit created new challenges for all exporters, from multinational firms to small e-commerce businesses. re:TRADE, powered by VAT, is a complete supply chain solution. We provide full clarity and support on everything from customs duties, import VAT and logistics.
It’s an integrated solution that ensures your goods always get to your customers, as efficiently and affordably as possible.
