Are you finding Imports and Exports more difficult since Brexit?
I recently read this article and thought it was a must-read for anyone wanting to get on the front foot when Importing or Exporting.
International trade: How small firms are responding to Brexit challenges
Brexit has thrown conventional exporting and international trade norms up in the air.
But amid the challenges and frustrations are opportunities, and the potential to target entirely new markets.
Brexit has undoubtedly made it harder for UK small businesses to trade with the EU.
Under the new trading relationship, many firms have reported increased costs, rules, paperwork, delays and disruption.
Compounding this are the ongoing difficulties many continue to encounter with the movement of goods across the Northern Ireland border.
This is evidenced by the fact that one in eight small exporters have temporarily or permanently stopped selling to the EU and a further nine per cent are thinking about it, according to the Federation of Small Businesses' Small Business Index.
A study by the Department for International Trade suggests that 33 per cent of firms considering exporting to one of the four key markets face customs procedures barriers, while another 18 per cent are encumbered by technical requirements imposed on end products.
Small businesses have also been disproportionately disadvantaged by the disruption that the COVID-19 pandemic caused to the global supply chain. In addition, because of their size, they don’t necessarily have the resources needed to meet the rising upfront costs of exporting.
The war in Ukraine, inflation and the energy crisis have all added to the burden. Cumulatively, they have resulted in a loss of customers and a shortage of key commodities such as wheat, driven up costs and made it harder to find suppliers and secure trade routes.
Read the full article on the Federation of Small Businesses (FSB) website link below.
https://lnkd.in/eFvEfAY7
#smallbusiness #smallbusinessowners #exportimport #brexit