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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 WELCOMES LAUNCH OF UK-GULF CO-OPERATION COUNCIL TRADE NEGOTIATIONS 

These negotiations are likely to be more complex than the others recently undertaken by the UK Government. But they also have the potential for a greater uplift for exporters across the UK, particularly in services and emerging technology.

ECONOMY ON A KNIFE EDGE AS INFLATION KEEPS CLIMBING

Inflation is set to continue upwards, with a further rise in the energy price cap yet to come, leaving businesses with mounting economic uncertainty, alongside labour shortages.

UNCERTAINTY REMAINS ON FUTURE OF STANDARDS MARKING SYSTEM

There is some way to go before businesses will have complete assurance about the operation of the new markings systems.

Chamber LGBTQ+ celebrates Pride Month 2022

​June is a month when we see businesses across the UK painting their usually untouchable brand livery all shades of rainbow in support of LGBTQ+ employees, customers and stakeholders.