British Chamber of Commerce Brexit report: Industry commentary
This morning, the British Chamber of Commerce released a report revealing that around half of exporters are finding it difficult to adapt to Brexit changes.
Here below is a comment from Atul Bhakta, CEO of One World Express:
Atul Bhakta, CEO of One World Express said “The British Chamber of Commerce’s findings come as no surprise. Given the last minute nature of the trade deal between the UK and the EU, many companies were caught off-guard by the heavy administrative burdens, due to additional paperwork and many more delays relating to custom checks. Consequently, 44% of UK businesses are planning to cease trading with EU businesses, according to One World Express’ own research.
“However, exporters must not panic. Instead, they should take practical steps to understand how they can adapt to a post-Brexit world. Dedicating resource to reviewing Brexit trade rules and seeking advice from logistical consultants, would be a strong starting point for many firms. Now could also be an opportune moment to explore new trading opportunities emerging in other international markets. India, for example, is experiencing an ecommerce boom, presenting a strong online opportunity for UK exporters.
“We are certainly in for some difficult months ahead as both UK and EU businesses adapt to new trading conditions. However, businesses needn’t dampen their trading ambitions. Rather, they must thoroughly research new processes, explore opportunities, and seek consultancy where possible. Doing so will certainly help businesses to thrive in the post-Brexit world.”