Action needed as more SME exporters report falling sales
The BCC’s quarterly Trade Confidence Outlook for Q3 2022 showed a sizeable proportion of SMEs exporters are facing an increasing squeeze on their operating margins as 65 per cent expect their prices to go up, but 39 per cent expect their profitability to go down.
Read the full article here.
EVENTS AND WEBINARS
‘Growing Globally - Good and Services’ Networking Lunch
Wednesday 19 October, 11.45am-2.00pm
Peterborough United Football Club, London Road, Peterborough, PE2 8AL
Hear from a panel of experts the latest news in the international world and how your business can grow globally. FX and currency experts will be on hand to talk to you about the benefits of trading on local currencies and cost saving strategies!
With International Trade Week starting at the end of October we want to support and help companies break down the barriers in the forever changing international market. We aim to reach out across trades and industries where each representative brings their own unique experiences and expertise to benefit and further the growth of the collective.
Cost: £20.00 (plus VAT) per person. Lunch included.
Organised with World First, Smart Manufacturing Alliance, PEM Accountants and Department for International Trade.
Click here to register.
Webinar: Free your trade potential - International Trade Week
Wednesday 26 October, 2.00pm
Leading up to the Department of International Trade (DIT) International Trade Week 2022 we’ll be discussing the latest hot topics at this online webinar including:
- Free Trade Agreements
- Discounts at the border
- How to claim and use preferences including the required documentation
- Maximising profits
Register here.
Trading with Egypt - CargoX and ACID
Thursday 20 October, 9.30am-12.00pm
In partnership with the Egyptian-British Chamber of Commerce, this workshop is for importers and exporters that trade with Egypt. It will offer a step-by-step guide on the changes that have been implemented, explain what the CargoX platform is and how it works. There will be an opportunity to ask questions.
Click here for more details and to register.
Global Entrepreneurship Week (GEW) UK
Taking place from Monday 14 - Sunday 20 November, GEW celebrates entrepreneurship through events, activities and competitions taking place across the nations of England, Scotland, Wales and Northern Ireland as well as countries around the world. Shevaun Haviland, British Chambers of Commerce Director General, will be a keynote speaker at the official launch, full day conference on Monday 14 November.
See more information and register here to attend virtually or in person.
TRAINING COURSES
Incoterms 2020
Tuesday 18 October, 9.30am-1.00pm
This half day seminar will explain Incoterms ® and their importance in international trade contracts.
Step by Step Understanding a Customs Declaration
Thursday 3 November, 9.30am-1.00pm
This training will build a basic understanding on how to compile a basic import / export entry.
You can view the full list of all our courses on the Chamber website.
Courses can also be tailored to meet your company’s specific requirements. For more information about a bespoke course for your company, which can be delivered remotely or in person, please contact the Chamber on 01223 237414.
Trade updates
The UK government, the US and the EU further strengthened sanctions against Russia at the end of last week. A further ban on services exports to Russia has been introduced covering transactional legal services, IT consultancy, architecture, engineering, advertising, auditing. Legislation is due shortly.
Last week, the British Chambers of Commerce (BCC) participated in the first meeting of the Civil Society Forum on the UK-EU relationship, along with key officials from London and Brussels, and business and other stakeholders from the UK and EU. They raised the key issue for SME traders of fiscal representatives, VAT and using the 'one-stop shop' for online sales.
The BCC also joined the first joint meeting of UK and EU Domestic Advisory Groups on EU-UK Trade last week. A strong ambition was expressed by all stakeholders to keep the practical effects of regulatory divergence in both the UK and EU under review in terms of the implications for trade.
The World Trade Organisation downgraded its forecast for global trade in 2023 to one per cent and identified weaker consumer demand for imported goods as a key factor. The BCC will be discussing the implications of this with the Department for International Trade (DIT) in terms of export growth.
The BCC also met with DIT officials to discuss Indian additional tariffs on key UK export goods in response to UK policy on steel safeguard measures.
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