Assessing the fourth year since the UK formally left the EU, a survey of 1111 businesses (92% of them SMEs) has found that 41% of exporters disagree that the Brexit deal is helping them to expand sales and 46% of businesses want the Government to make it easier for UK staff to work in the EU.
The survey, carried out by the Insights Unit at the British Chambers of Commerce (BCC), warns of fresh challenges as UK regulations continue to diverge from EU law, creating further headaches for traders on both sides of the Channel.
In addition, the survey found that more than three-quarters (77%) of traders are unaware of the details of new safety and security regulations which will affect EU imports from 31 January 2025.
The survey also found that alongside easier movement of personnel between the UK and EU, 36% of businesses also wanted to see reduced VAT requirements for exports, and a quarter (24%) wanted mutual recognition of professional qualifications.
The UK-EU Trade and Cooperation Agreement (TCA) was agreed on Christmas Eve in 2020 to allow tariff-free trade with the EU once Brexit took effect. The BCC has sent the Government its report, also assessing the fourth year of Brexit. It sets out the main issues the TCA is causing for UK firms, with possible solutions to many of the problems.
Entitled The Trade and Cooperation Agreement Four Years On: A Manifesto to Reset UK-EU Trade, the report can be found HERE and includes 26 recommendations to improve UK-EU trade.
BCC Director General, Shevaun Haviland, said:“There is no time to lose in driving forward the changes we need to see. Firms are suffocating under a blanket of rising costs and improving our trading relationship with the EU could provide the growth needed to transform the dour outlook many are facing.”
The BCC urges the Government to accept a balanced Youth Mobility scheme between the UK and EU, which the Union is pressing for, in exchange for a deal which either eliminates or reduces the complexity of exporting food for SMEs.
British Chambers of Commerce
The British Chambers of Commerce (BCC) sits at the heart of a business network that spans the length and breadth of the UK, with links to markets across the world.
