BCC says while it is a relief that the ratification of the TCA has gone smoothly, it is now vital that both the UK and EU work together to alleviate the significant disruption and difficulty which many firms continue to report.
BCC says while it is a relief that the ratification of the TCA has gone smoothly, it is now vital that both the UK and EU work together to alleviate the significant disruption and difficulty which many firms continue to report.
BCC says data for February 2021 shows modest growth and a further boost is likely as economy reopens but warns that continued improvement is not guaranteed.
The British Chambers of Commerce’s Trade Confidence Outlook for Q1, released today, has revealed the stark issues facing UK exporters in the first months of this year. The survey of more than 2,900 UK exporters revealed that the percentage of firms reporting decreased export sales had increased to 41%, up from 38% in the previous quarter. The percentage of businesses reporting increased export sales fell to 20%, down from 22% in Q4 2020. 40% reported no change in their export sales.
BCC Head of Economics, Suren Thiru, says practical difficulties faced by businesses on the ground go well beyond teething problems, and with disruption to UK-EU trade flows persisting, trade is likely to be a drag on UK economic growth in the first quarter of 2021.
BCC believes the fund is a welcome first step for small businesses grappling with EU trade issues
Results from the first major business survey for 2021 by the British Chambers of Commerce on Brexit found that half (49%) of exporters are facing difficulties in adapting to the changes in the trade of goods following the ratification of the UK-EU Trade and Cooperation Agreement (TCA) on 1 January 2021.
BCC Director General Adam Marshall and CEO of Northern Ireland Chamber of Commerce and Industry Ann McGregor comment on the agreement in principle of the EU-UK Joint Committee on the Northern Ireland Protocol.
With negotiations between the UK and EU once again at a decision point – and with just 24 days to go until the end of the Brexit transition period – the latest analysis by the British Chambers of Commerce shows that businesses still have insufficient official information available in 24 critical areas, undermining their ability to prepare for change on 1st January.
BCC Director General Adam Marshall responds to the launch of the government’s ‘time is running out’ campaign, urging businesses to prepare for the end of the transition period.
BCC Director of Trade Facilitation Liam Smyth comments on the government’s updated Border Operating Model, published today.
