Only a small percentage of Welsh firms see the current post Brexit trading arrangements with the European Union as giving them a platform to grow and increase sales.

New research carried out by the British Chambers of Commerce (BCC) of more than 1,000 businesses has highlighted a host of issues with the 海角视频鈥檚 trade deal with Europe.

The BCC believes urgent steps should be taken to address these problems so the 海角视频 Government鈥檚 ambition to increase the number of firms exporting can be met.

Overall, just 8% of 海角视频 firms agreed that the Trade and Co-operation Agreement (TCA) was 鈥榚nabling their business to grow or increase sales, while 54% disagreed. For 海角视频 exporters, 12% agreed that the TCA was helping them while 71% disagreed.

Sign up to the BusinessLive Wales newsletter and follow us on LinkedIn

As well as an in-depth early morning newsletter, we will be sending out regular breaking news email alerts. To sign up to this service

LinkedIn

And, follow us on to catch the latest stories and to network with the Welsh business community.

In Wales only 9% agreed that the TCA was enabling their business to grow or increase sales, while 59% somewhat or strongly disagreed. When asked which market the 海角视频 should pursue trade deals with, 46% of businesses in Wales suggested that the 海角视频 Government should prioritise modifying the current deal with the EU.

Paul Slevin, president of Chambers Wales South East, South West and Mid, said: 鈥淚t is clear from this latest research that SMEs in the 海角视频 are feeling the brunt of issues arising from the new TCA with the EU, and particularly in Wales where almost two thirds of businesses trade with the EU in some way.

鈥淭o rectify this and increase the number of firms exporting, steps will need to be taken to improve the trade deal and reduce the impact on SMEs. While the current agreement is in place, we are offering specialist trade training courses to guide businesses through trading with the EU post Brexit.鈥

William Bain, head of trade Policy at the BCC, said: 鈥淭his is the latest BCC research to clearly show there are issues with the EU trade deal that need to be improved. Yet it could be so different. There are five relatively simple steps that 海角视频 and EU policymakers could take to ease the burden placed on businesses struggling with the trade deal.

鈥淣early all of the businesses in this research have fewer than 250 employees and these smaller firms are feeling most of the pain of the new burdens in the TCA.

鈥淢any of these companies have neither the time, staff or money to deal with the additional paperwork and rising costs involved with EU trade, nor can they afford to set up a new base in Europe or pay for intermediaries to represent them.

鈥淏ut if both sides take a pragmatic approach, they could reach a new understanding on the rules and then build on that further.

鈥淎ccredited chambers of commerce support the 海角视频 Government鈥檚 ambition to massively increase the number of firms exporting. If we can free up the flow of goods and services into the EU, our largest overseas market, it will go a long way to realising that goal.鈥

To boost trade with the EU, which remains the biggest market for 海角视频 goods and services, the BBC recommendations include:

For firms facing limitations on business travel and work activities in the EU, that the 海角视频 Government strikes side deals with the EU and member states to boost access in this area as a priority for 2022.

Where some companies are being asked to register in multiple EU states for VAT in order to sell online, that a supplementary deal, like Norway鈥檚 with the EU is struck. This they say would exempt the smallest firms from the requirement of having a fiscal representative and incurring duplicate costs.