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UK SMEs Face Challenges in Leveraging Post-Brexit Trade Deals
UK SMEs Face Challenges in Leveraging Post-Brexit Trade Deals
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BTCCSquare news:
Small and medium-sized enterprises in the UK are failing to capitalize on the government's new trade agreements, according to a British Chambers of Commerce survey. The study of 4,638 firms reveals 84% of microbusinesses (10 or fewer employees) see negligible export activity—highlighting a growing divide between small operators and larger corporations with established supply chains.
While 42% of companies with 250+ employees report export growth, BCC's William Bain warns the trend threatens long-term GDP potential. A 25% export boost could yield 0.6% GDP growth, but only with targeted SME support. Post-Brexit data shows a 30% drop in UK-EU exports, with over 16,000 small firms abandoning continental trade entirely.
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