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As soon as they left the EU, British companies collapsed: traffic collapsed, not enough workers

Jan last year. At the same time, the single member of the European Union and the British member of the EU came to an end.

The Institute of Directors (IoT), the largest and oldest British business management organization founded in 1903, conducted a survey on Monday of 651 companies commissioned by the London Business Daily Financial Times. 31% of companies have found that the value of their trade in EU markets has declined since the new rules went into effect on January 1, And only 6 percent pointed out that they have increased trade with EU countries.

A further 17 per cent of those surveyed told IoT that they had suspended trade with the EU since January, either temporarily or permanently.

More than a quarter of companies reported recruitment issues:

  • The 17 per cent of companies surveyed said they did not have access to highly skilled workers as EU workers could no longer position themselves independently in the UK.
  • Another ten percent pointed out that they could not hire less skilled workers for the same reason.

This is the second professional survey to show a sharp decline in British trade with the EU in a short period of time. According to a recent study by the British Food and Beverage Association (FDF), British food and beverage exports to EU markets fell 47 percent in the first quarter of this year.

One of the most widely exported British food and beverage products

Sales of whiskey in EU markets fell 32.3 percent, chocolate exports 36.9 percent and dairy products more than 90 percent, while cheeses fell two-thirds.

British imports from the EU also fell 10 percent overall, but on average, vegetable imports fell 13.9 percent, wines 20 percent and fruit 15.7 percent.

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According to official figures, the value of bilateral trade between Great Britain and the European Union was 668 billion GPF (approximately HUF 275 thousand) last year, in the interim.

Britain and the European Union agreed before Christmas last year on key rules for future bilateral relations. The key element of the 1246 Page Agreement is a free trade agreement that provides for free and fair trade in bilateral trade. However, the agreement does not remove the administrative burden on trade: British exporters need, among other things, customs notices and proof of origin.

The British Tax and Customs Administration (HMRC) estimates that 245,000 EU companies involved in the EU are exporting an additional $ 15 billion (approximately, 200, 6,200 billion) a year in expenditure due to the completion of customs notices.

Cover image: Getty Images