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New research has uncovered small and medium-sized businesses trading internationally have grown at almost twice the rate as small firms selling within local markets. The study, carried out by the government’s export credit agency, UK Export Finance, found that firms trading domestically experienced an 8.4% growth rate over the last five years, compared to 15.2%
The ongoing trade war between the USA and China has seen imports into the US from China drop by 13% so far in 2019. Tariffs were the primary cause of the decline on imports from China, with Vietnam proving to be the biggest benefactor with exports to the States increasing nearly 35%, primarily in the
UK manufacturers are feeling the effects of a prolonged Brexit process as sales and orders drop into the negative, despite growth in the number of individual firms selling overseas. The British Chamber’s Quarterly International Trade Survey for Q3 2019 found that the percentage balance of manufacturers exporting internationally reporting order increases dropped from 9% to
The number of manufacturing companies in the UK who are exporting goods has increased to the highest levels in over a decade. Despite global trade difficulties, including within the EU, the Lloyds Bank UK International Trade Index has reported that over 81% of manufacturers exported goods in Q3 this year, up on Q2. That includes
The December election campaign is well underway in the UK with the two main parties set to pitch their financial agendas for the country today. Triggered and still dominated by Brexit, the campaigns will also focus on some of the big areas that have had little discussion time in the last three and a half
“Brexit has had more dates in the last year than I have” has been a popular quip on Twitter today following the EU’s announcement that member states have agreed to a new extension period. The UK now has a deadline of 31st January to agree to a deal in Parliament. Just to add further intrigue,
New data from the Office for National Statistics has highlighted increased demand for British goods outside of the EU in the run-up to October 31st, predominantly with the US and China. Trade with non-EU countries is currently growing twice as fast as with EU member states, with data showing a 4.2% increase in exports to
The cost of additional red tape and paperwork at the border in the event of a no-deal Brexit could reach as much as £15bn according to a new Government paper. Filling in customs forms for trade between the UK and European Union would be just the tip of an iceberg of a ‘significant new and
The slump affecting the German manufacturing sector has continued this year with new figures from Destatis revealing a 6.7% year-on-year sales drop compared to August 2018, marking nearly two years of continuous decline. Factory orders dropped 0.6% compared to July, twice the shrinkage predicted by economists, albeit an improved performance on the previous month’s 2.1%
A drop in business investments since the EU referendum three years ago has cost the UK economy £20bn, according to new research. Findings published in the National Bureau of Economic Research has found that Brexit has resulted in a 11% drop in investment whilst also claiming that productivity has taken a 5% hit as a
Increased demand for tankers to ferry oil to Asia from the Gulf Coast has seen shipping prices skyrocket. Less than a month following the drone attack on Saudi facilities at Abqaiq and Khurais which halved oil output from the region, prices had begun to settle somewhat. However, increased shipping costs are keeping prices high. The
The government has launched a new online tool to help identify barriers for UK exporting businesses. The aim of the platform is to help the government’s own trade experts spot potential legal, regulatory, labelling, licensing or any other unnecessary barriers to trade which can then be worked on with countries around the world. Once a
Brexit is once again supposedly just weeks away. Whether it’s the new Prime Minister’s insistence that the UK will depart the European Union with or without the deal on 31st October, or the fact that Brexit Day now somewhat fittingly falls on Halloween, it could be that the months of uncertainty for businesses will be
The number of permanent staff hired by UK companies has dropped at the quickest rate in more than three years. Research by the Recruitment & Employment Confederation, alongside a report from KPMG, has uncovered that the number of full-time recruits fell for six consecutive months to August, suggesting that ‘many firms [are] delaying hiring decisions
The Department of Agriculture has suggested it expects the pattern of trade to change following Brexit and warned that ‘not all exports can comply with new post-Brexit rules’. Businesses exporting agri-food products into the EU which are not member states will require an Export Health Certificate – an official document which carries an authorised signature
The CBI has launched a report with some 200 recommendations and actions for businesses and governments to take as the likelihood of no-deal Brexit increases. The report, titled ‘What comes next?’, unveils a detailed analysis of advice for its members and the wider business community, covering everything from the movement and regulations of goods to
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
We were extremely pleased with the final report, which ran to some 450 pages, and covered in detail, country by country the information we required. It was laid out in a clear, concise manner, with logical summaries and inciteful analysis of the key data.
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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New research has uncovered small and medium-sized businesses trading internationally have grown at almost twice the rate as small firms selling within local markets. The study, carried out by the government’s export credit agency, UK Export Finance, found that firms trading domestically experienced an 8.4% growth rate over the last five years, compared to 15.2%
The ongoing trade war between the USA and China has seen imports into the US from China drop by 13% so far in 2019. Tariffs were the primary cause of the decline on imports from China, with Vietnam proving to be the biggest benefactor with exports to the States increasing nearly 35%, primarily in the
UK manufacturers are feeling the effects of a prolonged Brexit process as sales and orders drop into the negative, despite growth in the number of individual firms selling overseas. The British Chamber’s Quarterly International Trade Survey for Q3 2019 found that the percentage balance of manufacturers exporting internationally reporting order increases dropped from 9% to
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