Lucy Monks of the Small Business Federation, which represents small businesses and the self-employed, said so. About one-fifth of these companies currently still export their goods or services abroad – according to the association, this is the lowest level since the start of the pandemic when restrictions caused a general collapse of trade.
The UK left the European Union at the end of January 2020 and has also not been a member of the EU customs union and internal market since January 2021. The Brexit trade deal, agreed at the last minute, provides exemptions from customs duties in most areas. However, there are difficulties in trading due to increased bureaucratic requirements.
“Small companies want to trade and expand into new markets, but they still face hurdles,” said Monks, head of international relations at the industry association. These include, for example, higher delivery costs and more paper to fill.
The association hopes for future simplifications through the planned digitization of trade controls. Monks warned that the British government must also take into account the difficulties and needs of smaller companies when negotiating more trade deals.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
