A new study conducted among 1,000 companies by HSBC has revealed that UK importers and exporters are more positive about their growth next year than traders who only sell their products or services domestically.
The researchers found that three-fifths of respondents that that import or export expect growth in 2022, whereas only 46 per cent of domestic traders shared the same hopes.
Despite the positivity among so many businesses, 52 per cent of respondents had been negatively impacted by new rules for trade post-Brexit – up by five per cent compared to a similar study conducted in January.
Of the issues faced by businesses, ‘delays in receiving goods’ was the biggest problem related to Brexit. During the previous study at the start of the year, the main complaint had been ‘increased time spent on administrative tasks’.
Looking to the future, more than two thirds (69 per cent) of exporters said that future free trade agreements would play an important role in their growth, while 54 per cent of businesses said they would be more likely to consider exporting to a new market if a trade deal was already in place.
Ian Tandy, Head of Trade for HSBC UK, said: “It’s very encouraging to see that, despite this, exporters and importers remain confident about finding growth in the year ahead.”
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