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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
A new report has suggested that Brexit has cost the UK economy £550m in lost growth since the referendum in June 2016 – £66bn worse off in just three years. That’s according to Standard & Poor’s Brexit report, which noted the fall in the value of sterling as one of the primary factors affecting potential
The head of bathbomb and scented soap retailer Lush has given an insight into the potential damage a no-deal Brexit could cause to his business. Mark Constantine has lambasted the government’s approach to negotiations and its attitude towards businesses as the firm’s financials took a swung from a £23m profit to £4m operating loss last
Small businesses in Germany are being warned that too many are unprepared for Brexit and the potential disruption the UK leaving the EU will cause native firms. The warning primarily centres on financial services and access to financial products. Banks on the continent have been shifting market-related activities for some of their EU clients, such
UK fish exporters are being urged to sign-up to a new digital catch certificate service to ensure they’re able to continue selling to the EU in the event of a no-deal Brexit. Advice published by the Department for Environment, Food & Rural Affairs this month said that businesses should take action now to avoid issues
The number of UK firms exporting, and the value of exports, has increased once more year-on-year according to the latest DiT data. Figures from HMRC showed 110,800 VAT-registered businesses exporting last year, whilst the exports of goods across all four UK regions also increased. Scotland led the export growth charts with a 5.6% rise in
Over 70% of UK manufacturers have an export-based growth strategy for their business. That’s according to the latest Annual Manufacturing Report data from The Manufacturer, whereby 71% of manufacturers are actively seeking new markets to penatrate. The news is positive and highlights the resilience and optimism of exporting manufacturers in the UK in the approaching
Almost three-quarters of UK manufacturers have reported that Brexit is causing damage to long-term strategic planning and future business prospects. That’s the Brexit headline from the latest Annual Manufacturing Report produced by The Manufacturer in which 71% said Brexit uncertainty is damaging strategic planning and business prospects. Commenting in the report, Director at Cumbric Ltd
In the event of a no deal Brexit, it could take seven years to re-establish frictionless, tariff-free trade between the UK and EU. That’s the opinion of two leading EU law specialists who have warned that it might not be as simple as it sounds to simply default to World Trade Organisation tariffs should the
The UK has looked to sure-up its trading relationship with Chile after the signing of a new trade continuity agreement. Signed by Jamie Bowden, Ambassador to Chile an the Chilean Foreign Minister Roberto Ampuero on 30th January, the deal will see companies and consumers cotinue to benefit from preferental trading arrangements after Brexit. Trade in
Almost half of UK companies feel they are unprepared for a chaotic exit from the EU according to the Bank of England’s quarterly inflation report. The report, which quizzed 200 businesses about their Brexit preparations and readiness, found that half had begun planning for no deal and no transition, but half said they felt unprepared
More startups than ever are exporting from the get-go as a core businesses strategy. In fact, data from the Office for National Statistics show the number of exporting UK SMEs grew by nearly 7% in 2017 compared to the year previously, meaning 10% of all SME’s now export. Whereas it can be commonly thought to
UK exports have risen for a 32nd consecutive month on a 12-month rolling basis, worth £630 billion in the year to November 2018 according to data released this month from the Office for National Statistics. The continued growth has seen an additional £13.9 billion in value added to UK goods and services exports. There was
UK businesses exporting or importing with the EU have been urged by HMRC to apply for an Economic Operator Registration and Identification number so they can continue trading in the event of a No Deal Brexit. With Theresa May’s deal set to be voted on by Parliament tomorrow and the rhetoric having advanced to a
The Department for International Trade’s Export Strategy is to be reviewed by the International Trade Committee as part of an inquiry into the department’s support for exports. Chair of the Committee, Angus Brendan MacNeil, said the inquiry will look to review the strategy and ascertain whether or not it offers ‘sufficient levels of support to
When Theresa May met Chinese Premier Li Keqiang back in January this year, all reports suggest that the meeting was a glowing success. Some £9 billion in deals are expected to have been signed between the two nations as they discussed future trade and investment opportunities between China and the UK. Indeed, a new ‘golden
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The government has agreed to temporarily guarantee trade credit insurance to support businesses struggling to get cover during the pandemic. The guarantee will help both domestic and exporting companies within the supply chain. With almost all sectors being financially impacted due to coronavirus, some firms have seen the number of payment defaults increase, making it
The UK government has confirmed plans to enhance border checks at ports in Northern Ireland and intends to release detail with the executive outlining ‘physical posts at ports of entry’ as soon as possible. Whilst the rest of the UK will stop following EU rules on agricultural and manufactured goods at the end of this
As UK-US talks on a free trade deal officially get underway, there’s hope in the SME community that an opportunity arises which will help mitigate some of the damage caused by Covid-19. Almost 200 negotiators will be locked in detailed discussions, via video call, every six weeks in a deal that could see UK-US trade,
Opening a world of opportunities for businesses with ambitions to export.
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