BCC warns SME exporters 'under tightening pressure'

The British Chambers of Commerce (BCC) has warned that small and medium-sized enterprises (SMEs) that export are facing 'tightening pressure' as a result of decreasing export sales.

The British Chambers of Commerce (BCC) has warned that small and medium-sized enterprises (SMEs) that export are facing 'tightening pressure' as a result of decreasing export sales.

The BCC's quarterly Trade Confidence Outlook report, which polled more than 2,300 SMEs, showed that 27% of exporters recorded decreased export sales during the fourth quarter of 2022.

The survey showed that 26% of businesses saw increased export sales, whilst 47% reported no change. 36% said they expect to see increased profitability in the next 12 months; however, 35% anticipate a decrease.

William Bain, Head of Trade Policy at the BCC, commented:

'Last autumn the World Trade Organisation forecast global trade growth of just 1% in 2023, down from 3% in 2022. This is creating huge headwinds for smaller UK firms battered by the pandemic, Brexit and energy price shocks.'

Internet link: BCC website

acca xero silver partner intuit quickbooks gold receiptbank-logo.png 2020 Innovation IRIS

© 2024 Beltons Public Accountants Limited. All rights reserved. Beltons is the trading name of Beltons Public Accountants Limited.
Registered in England and Wales 05083306 - VAT Number 684 8966 59.

We use cookies on this website, you can find more information about cookies here.