A recent survey by the British Chambers of Commerce (BCC) reveals that the UK’s new trade deals are not significantly benefiting small businesses. The survey of 4,638 firms, primarily small and medium-sized enterprises (SMEs), found that 84% of companies with 10 or fewer employees either receive too few export orders to see a meaningful impact or rarely engage in international trade. In contrast, larger companies with more resources saw a growth in export orders. BCC’s William Bain highlighted the growing gap between small and large exporters, stressing that the UK’s export potential could increase GDP by 0.6% if smaller firms had more access to international markets. The UK’s export performance has struggled, especially post-Brexit, with exports to the EU dropping by nearly 30% and over 16,000 small businesses halting exports to the bloc.
Despite the UK government’s efforts to secure trade deals with countries like Japan, Australia, and members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, SMEs remain largely excluded from these opportunities. Bain and other business leaders argue that more government support is needed in the form of trade education, digitization, and localized export advisers. The government’s recent actions, such as increasing UK Export Finance’s lending limits, have been seen as insufficient without direct investment in small businesses' capacity to navigate new markets. Experts advocate for digital solutions, streamlined export processes, and grants for small firms to reduce bureaucratic barriers and help them access global growth opportunities.