As Brexit looms, half of small UK businesses are looking stateside

by Dramelin 7:30 AM 0 comments

"Compared to larger companies, small businesses typically work to tighter margins with limited resources, meaning changes to the trading landscape will hit them disproportionately hard.
Almost half of small British businesses would prefer to trade with the U.
S.
than other major international markets if blocked off from the European Union after Brexit, according to a new report.
Over half (58 percent) of smaller U.
K.
firms say they find the EU easier to trade with than non-EU markets under current arrangements, while nearly half (45 percent) and over half (53 percent) of importers find it cheaper.
"Small firms trade with countries based on ease, cost and value and any future trade deal must deliver on these key aspects both with the EU single market and non-EU markets," commented Mike Cherry, FSB National Chairman.
"Last month, a study from the British Chamber of Commerce found that 25 percent of U.
K.
firms plan to increase their export resources to the U.
S.
in the next five years, making it the most preferred of all non-EU markets.