海角视频

Oops.

Our website is temporarily unavailable in your location.

We are working hard to get it back online.

PRIVACY
Economic Development

Quarter of SME exporters have halted sales in EU since post-Brexit deal, study finds

Research by the Federation of Small Businesses highlights the challenges some smaller firms are having with overseas trade since the end of the Brexit transition period

(Image: Andrew Matthews/PA Wire)

Almost one in four smaller firms which export goods have temporarily halted sales to European Union, new research suggests.

Around one in 25 have decided to stop selling into the EU permanently after new trading rules came into force at the start of this year, the study indicated.

The Federation of Small Businesses (FSB) said some exporters have established, or are considering setting up a presence within an EU country to ease their exporting processes.

One in 10 are thinking about securing warehousing space in the EU or Northern Ireland, said the report.

Most importers and/or exporters have suffered shipment delays when moving goods around the EU in recent weeks, said the FSB, with one in three losing goods in transit or having goods held indefinitely at EU border crossings.

FSB chairman Mike Cherry said: “At a moment when small firms are doing all we can to return to growth and get our economy firing on all cylinders again, those that do business internationally are being hit with some incredibly demanding, unfamiliar paperwork.

“Three months on from the end of the transition period, what we hoped would prove to be teething problems are in danger of becoming permanent, systemic ones.

“While larger firms have the resources and bandwidth to overcome them regardless, smaller traders are struggling, and considering whether exports are worth the effort any more.