A recent report from the British Chambers of Commerce (BCC) highlights that small and medium-sized enterprises (SMEs) in the UK are continuing to face significant challenges in their trade with the European Union (EU), more than three years after Brexit.
The report indicates that SMEs are still grappling with increased costs, complex paperwork, and delays in cross-border trade, which have hampered their ability to grow and compete internationally.
The BCC survey shows that many SMEs have struggled to adapt to the new customs regulations and border checks that came into effect after the UK’s departure from the EU.
These regulatory changes have led to delays in shipments, increased costs of compliance, and, in some cases, the loss of business due to disruptions in supply chains. SMEs, which often lack the resources to manage the complexities of international trade, have found it particularly difficult to navigate these challenges.
In light of these ongoing difficulties, the BCC has called for further government support to help SMEs adjust to the post-Brexit landscape.
This includes simplifying trade processes, offering clearer guidance on customs procedures, and providing financial assistance to help SMEs cope with the increased costs of doing business with the EU. The report stresses that without adequate support, many small businesses risk losing access to critical markets in the EU, which has traditionally been one of the UK’s largest trading partners.
Despite these struggles, the BCC also noted that some SMEs have adapted by seeking new markets beyond the EU, exploring opportunities in countries such as the United States, Asia, and Africa.
However, the report emphasizes that the EU remains a vital market for many businesses, and more needs to be done to ease the burden on SMEs to ensure that they can continue to trade effectively and contribute to the UK economy.
