International Trade Survey

The British Chambers of Commerce (BCC) and Bibby Financial Services (BFS) have revealed that uncertainty around Brexit, tariffs and exchange rate volatility are holding back the potential of many UK exporters.

The recent survey included 1,140 internationally active UK businesses, and found that general uncertainty around Brexit was considered the top barrier to export, listed by almost half (47%) of businesses, followed by specific concerns around tariffs and exchange rate volatility, listed by 35% and 33% respectively.

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 EUand 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