Only every eighth source benefits from the trade agreement

Liverpool Harbor

Few British companies are benefiting from the Brexit deal.

(Photo: dpa)

London According to a recent survey, only one in eight British exporters have benefited from the country’s Brexit trade agreement negotiated with the European Union. In a survey by the Federation of British Chambers of Commerce, published on Thursday, only 12 per cent of exporters said the trade agreement had helped them grow their business – 71 per cent did not.

The majority of the more than 1,100 entrepreneurs surveyed said high costs, bureaucracy and delays made the UK less competitive.

“Almost all of the companies in this survey have fewer than 250 employees, and these smaller companies feel the new hurdles from the business deal more than others,” union president William Payne said, according to a statement. Companies have neither the time, nor the money, nor enough employees to cover the additional expenses. The association therefore called on the British government to engage in further talks with the European Union for simplified controls and relaxed rules, especially in the food sector. In addition, British companies need more support to meet the new challenges.

The trade deal negotiated between Brussels and London at the last minute is now in effect for a good year. Although goods are allowed to move largely duty-free, trade between the EU and the UK has nonetheless become significantly more complex and thus has declined.

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