Importers and exporters ‘set to grow’ in the next year

Importing & exporting

British importers and exporters are bullish about growing their businesses in the next year, despite many still suffering from the impact of Brexit.

A survey of businesses by HSBC found that 60 per cent of companies that import or export expect to grow, compared with 46 per cent of domestic firms.

The response came as the number of companies that said they have been negatively impacted by the end of the Brexit transition period rose.

Fifty-two per cent of importers and exporters said they were suffering from disruption caused by Brexit, compared with 47 per cent when the survey was first conducted in January.

The principal issue identified was delays in receiving goods. The earlier survey had found that increased time spent on administrative tasks was the biggest issue.

Sixty-nine per cent of exporters said that future free trade agreements would be important for growth, while 54 per cent said they would be more likely to consider exporting to a new market if a trade deal was in place.