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UK businesses are stepping up Brexit preparations and looking to prove their exporting credentials as the number of AEO applications surge. Authorised Economic Operator (AEO) status shows that a businesses role within international supply chains as being secure – compliant and up-to-speed with customs controls and procedures. UK firms have lagged far behind in AEO
The pace of the government’s legislative preparations for Brexit has surged in the first half of this year with four times as many Brexit-related bills passed compared to H2 2018. Thomson Reuters reported that 488 legislative pieces were passed from January to June, compared to 112 in the latter stages of last year. The first
Irish exporters to the UK are facing a ‘severe threat’ as sterling hit a two-year low. With the arrival of new Prime Minister, Boris Johnson and a more steadfast approach to 31st October as Brexit day, the pound saw its value slide with the possibility of no-deal becoming increasingly likely. Marry that with comments from
An alarming number of UK businesses reliant on imports from the EU to operate are falling behind in their Brexit planning and would not be ready for a hard exit from the European Union, with a leaked Cabinet note warning it would take ‘at least four to five months’ to improve the readiness of British
New data has shown that 66% of the UK public supports free trade deals, with just 3% opposing them. That’s the findings of the Department for International Trade’s first ‘public attitudes to trade’ tracker, a survey of 2,400 people across the UK that aims to calculate people’s changing attitudes to trade over time. Giving reasons
The performance of UK exports and goods over the last twelve months has continued to rise, reaching a new record high despite a challenging global trade environment and impending departure from the European Union. In the 12 months to May 2019, overall exports increased by 4% to £647.1 billion with goods exports alone increasing by
After two decades of negotiation and amid a growingly protectionist political backdrop, the EU and South American member states of the Mercosur economic bloc have signed a trade deal that by some metrics is the largest ever agreed. The deal, which will see tariffs cut or removed on goods and services between both countries, will
The Institute of Directors has warned businesses to pick-up the pace of no-deal Brexit preparations, saying British businesses have made little progress in planning for a hard exit this October. The group said that businesses ‘cannot afford to put their faith in politicians to produce a Brexit resolution’. A survey conducted of its members found
The Society of Motor Manufacturers and Traders has issued a stern warning against a hard Brexit, suggesting border delays alone could cost the sector £50,000 a minute. The prediction was published as part of the trade body’s report into the car industry – the country’s single biggest exporter of goods. It warned that shipments of
The value of goods exports has increased once again across all four regions of the UK as demand for British products continues to grow overseas. Through the 2018/19 financial year, Scotland recorded the highest growth, whilst Wales and Northern Ireland also returned strong international trade increases. England continues to deliver the highest trade value with
International sales of Scottish food and drink have surged to a record-breaking £1.4 billion in Q1 2019. A healthy increase of 14% since last year, latest figures highlight strong demand in particular for Scottish salmon and, of course, whisky, which accounted for three-quarters of all export sales last year. On the latest figures, Food Minister
Car production in the U.K. has been cut almost in half as manufacturers induce an early summer slowdown. According to the Society of Motor Manufacturers and Traders (SMMT), factories produced nearly 45% fewer vehicles in April compared to a year previously with just 71,000 cars rolling off production lines – 60,000 fewer than April 2018.
The trade deficit remains far higher than forecast by City economists as British businesses continue to stockpile critical goods and components ahead of a delayed Brexit. The deficit in Q1 this year hit £18.3bn, a record high for any three month period and nearly double the £9.4bn disparity seen in the final quarter of last
By Mike Wilson In my last article writing for Cheshire Media Magazine, I speculated that there could be a delay to Brexit beyond the March 29th planned exit, yet questioned whether giving the politicians more time to argue would make any real difference? Unfortunately, it turns out I was right and we sit here today,
Data from the ONS has revealed that the 5 fastest growing export markets for UK businesses are in Asia. Figures released last month highlighted 40.8% growth in Taiwan, followed by 19.3% export growth in India. Other emerging markets seeing significantly higher growth than the average of 2.7% for UK firms include Nigeria (up 18.3%), Thailand
Over three-quarters of small businesses in the UK feel unsupported ahead of Brexit, according to a new report. A survey carried out by Simply Business uncovered that 76% of the 1,200 small business owners they asked feel like they lack the support they need in the run-up to the UK leaving the European Union, whilst
HMRC has extended the deadline of its customs training fund until 31st May 2019 to help businesses prepare for Brexit. The £8m fund, which was announced in October last year, is designed to help businesses prepare for a no-deal scenario and includes funding to train intermediaries and traders completing customs declarations, IT improvement funding and
Export sales of British beverages reached a new high in February, with demand for Scotch whisky and British gin proving particularly popular with international palates. In total, international sales hit £8.3bn, up 7% on February 2018, marking a doubling of demand in the last 15 years and providing a surpless of £1.6bn. Total service and
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All in all the report has formed an invaluable basis for our decision–making process for this project and provides a robust benchmark upon which to gauge our progress.
I would not hesitate to recommend Go Exporting to anyone looking for support in expanding their business internationally.
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UK businesses are stepping up Brexit preparations and looking to prove their exporting credentials as the number of AEO applications surge. Authorised Economic Operator (AEO) status shows that a businesses role within international supply chains as being secure – compliant and up-to-speed with customs controls and procedures. UK firms have lagged far behind in AEO
The pace of the government’s legislative preparations for Brexit has surged in the first half of this year with four times as many Brexit-related bills passed compared to H2 2018. Thomson Reuters reported that 488 legislative pieces were passed from January to June, compared to 112 in the latter stages of last year. The first
Irish exporters to the UK are facing a ‘severe threat’ as sterling hit a two-year low. With the arrival of new Prime Minister, Boris Johnson and a more steadfast approach to 31st October as Brexit day, the pound saw its value slide with the possibility of no-deal becoming increasingly likely. Marry that with comments from
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