NEW data from a survey of 981 businesses carried out by the British Chambers of Commerce has thrown sharp focus on the impact the UK-EU trade deal (TCA) is having on UK firms one year from its implementation.
The figures show rises in the proportion of firms reporting difficulties with the various changes brought about to UK-EU trade compared to when BCC last asked the same questions in January.
The BCC has concurrently launched it’s ‘TCA – One Year On’ report, which explores the experiences of businesses with the new trade relationship over the past year, and ways in which that could be improved in the short, medium and long term.
When asked how easy or difficult has it been for your business or supply chain to adapt to changes flowing from the UK-EU TCA areas
UK exporters were more likely than firms overall to report difficulties in these areas: For buying and selling goods, 60 per cent; for buying and selling services, 30 per cent; for moving people, 24 per cent; and for transferring data, 11 per cent.
Shevaun Haviland, director general of the British Chambers of Commerce, said: “These results, especially when compared to our data from January, give us a strong indication of the experiences on the ground for businesses who are dealing with the changes to the UK-EU trading relationship.
“While the data does suggest, one year into the implementation of the deal, that trade is becoming more difficult rather than smoother, we do believe there are solutions which can improve conditions for our import and export businesses.
“The data certainly does illustrate that the issues with the TCA are not ‘teething problems’ but more structural defects that, whilst fixable, if not attended to will lead to long term damage to our import and export sectors.
“Businesses want political leaders on both sides to move on from the debates of the past and find ways to allow them to trade more freely. The Government has ambitious goals for the UK export sector, which we share, and if these are to be met then we must improve the experience of firms trading with our nearest and largest trading partner.
“We hope that these figures, along with our report detailing the experiences of businesses and suggesting ways forward, will provide an opportunity for an honest dialogue about how we can improve our trading relationship with the EU.
“Government needs to ensure that our importers and exporters can fully play their part in the UK’s economic recovery by unleashing their ability to trade as freely as possible with European markets.”
Ajay Desai, International trade director at the Coventry and Warwickshire Chamber of Commerce, said: “The survey results bear out what we are seeing regionally and it’s vitally important that we improve our trading relationship with the EU for the good of businesses and the wider economy.
“I would urge any business that needs support with overseas trade – whether with the EU or in other parts of the world – to contact the Coventry and Warwickshire Chamber of Commerce on 024 7665 4321.”
