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Brexit preparation

Business still unable to prepare fully for a no deal Brexit

Business still unable to prepare fully for a no deal Brexit

New research from the British Chambers of Commerce shows a concerningly high number of UK firms aren’t ready for a no deal Brexit. Business has consistently called on government to avoid a messy and disorderly exit but in light of the political turmoil and relentless uncertainty, clearer and more consistent information is needed to help them prepare.

The survey of over 1,500 firms from across the country, found that in the midst of conflicting political messages over the likelihood of no deal and remaining gaps in government guidance, two-fifths (41%) of UK businesses have not done a Brexit risk assessment.

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Ease Brexit uncertainty to boost innovation through trade

Ease Brexit uncertainty to boost innovation through trade

A survey by British Chambers of Commerce, in partnership with DHL Express UK, has today revealed that almost half – 49% – of businesses have uncertainty over Brexit front of mind when deciding whether to trade internationally, highlighting the economic cost of the persistent lack of political clarity.

The research also shows that while there are many concerns for businesses when deciding whether to trade internationally, those that do trade internationally are more likely to be innovative within their business – 65% of those that are internationally active have launched a new product or service in the last 12 months, compared to just 41% of firms who are UK-focused.

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Six months to Brexit: Investment and recruitment would be cut in the event of ‘no deal’

Six months to Brexit: Investment and recruitment would be cut in the event of ‘no deal’

The British Chambers of Commerce (BCC), in partnership with independent business funder, Bibby Financial Services (BFS), has conducted one of the biggest surveys of business opinion since the referendum, amassing the views of over 2,500 firms from across the UK.

We found that nearly two-thirds of firms still aren’t preparing for Brexit – and in the event of a ‘no deal’ outcome many would cut investment and recruitment plans.

  • A fifth of businesses surveyed (21%) will cut investment if there is ‘no deal’, 20% will move part or all of their business to the EU and 18% will cut recruitment – but in the event of a status quo transition these numbers fall dramatically
  • 62% of firms still haven’t completed a Brexit risk assessment
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BCC SAYS MANY BUSINESSES FACE DIFFICULT WEEKS AHEAD DESPITE PLAN FOR SELF-ISOLATION EXEMPTIONS

While it will be a relief to some businesses in England that select critical workers can be exempt from self-isolation, it will leave many more still facing critical staff shortages and lost revenue as the number of people being asked to isolate remains high.

BCC Calls for Negotiated Settlement Following Latest NI Protocol Announcement

Responding to the announcement of the new UK approach to the Northern Ireland Protocol, William Bain, Head of Trade Policy at the BCC, said: “Businesses in both Great Britain and Northern Ireland need durable, workable, negotiated solutions on compliance with the Protocol to ensure the continued two-way flow of goods East-West and North-South. The UK Government and EU need to work together to find solutions which work for business."

BCC SAYS BUSINESSES CAN HAVE A LEADING ROLE IN THE SWITCH TO A GREENER FUTURE

The UK government should seek to expand trade opportunities for UK businesses in the switch to greener technologies and practices.

BUSINESS SUPPORT WILL BE CRUCIAL AS NEW EU BORDER AND CUSTOMS CONTROL PLANS ARE CONFIRMED

Hard-pressed companies will need further support into next year as they adjust to this new phase of the biggest change in trading terms with the rest of Europe for half a century.