Brexit trade trouble increasingly hits UK firms: BCC survey

03 Jan '22

1 min read

Pic: Elnur | Dreamstime.com

A recent survey carried out by the British Chambers of Commerce (BCC) shows a rise in the proportion of firms reporting difficulties with the various changes brought about to UK-European Union (EU) trade compared to when the same questions were last asked in January. For buying and selling goods, 60 per cent of the firms faced difficulties, while for buying and selling services, it was 30 per cent.

For moving people, 24 per cent of the 981 business surveyed face difficulties, while for transferring data, the figure was 11 per cent, the chamber said in a press release.

Problems faced by firms include value-added tax (VAT) requirements like the need for a fiscal representative and delays or returned goods despite VAT being paid, additional customs procedures and checks requiring additional paperwork and causing delays, new rules of origin requirements that have required some firms to change production processes or audit complex supply chains, difficulty recruiting staff due to EU workers returning home (COVID is cited as another cause for this), and the rules of the Northern Ireland Protocol causing increased costs and administration for businesses in Northern Ireland and Great Britain.

Fibre2Fashion News Desk (DS)

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