Latest updates and stories from Bedfordshire Chamber of Commerce and its Members

The work of Bedfordshire Chamber of Commerce at the top table of Government, as an accredited member of the British Chambers of Commerce (BCC), is unrelenting – and a privilege to be a part of.

Companies that import and export are having a tough time recently with the disruption of Brexit, spiralling prices, and the war in Ukraine, so some positive news would be welcome. And on the surface, the recent reversal of planned import controls delivers this.

The UK left the Brexit standstill transition period on its expiry on 1
January 2021. The terms of the new EU-UK trading arrangements –
in the Trade and Co-operation Agreement (TCA) – took effect the
same day. In accordance with this, the EU decided to introduce full
border controls on GB goods from 1 January 2021. The UK
Government decided to defer the implementation of inbound GB
border controls in respect of EU goods until 1 January 2022.

With the UK’s exit from the EU now officially achieved, (ongoing wrinkles and wrangles notwithstanding!), many businesses are revisiting the prospects for international trade both within and outside the EU.

For us at the Chamber, international trade is now scheduled to become a year-long focus, and we have added extensive content to our website to give your business access to the international trade resources and services it needs now more than ever, as we explore briefly below.

Once the UK reaches the end of the Brexit transition period, in just 70 days time, the process for importing and exporting goods to and from the EU will fundamentally change.

From December 31 2020, the number of customs declarations made by traders is expected to increase from 55 million to around 300 million every year. The increase comes from traders who have never had to complete declarations before because their trade has always been within the EU.

Partners In Export UK are a consultancy and export company based in Luton. Peter Jenkin, a former Export Manager with over twenty years’ experience, set up the company six years ago to help companies get their products into international markets.

Bedfordshire-based company Theodore Global export non-alcoholic beverages to Utah in the US. The company is owned and run by Janet Theodore and her two daughters, Bethany and Nicola.

It’s a common misconception that exporting is only for large companies with thousands of staff, but the truth is no business is too small to trade overseas.

As the fastest-growing large economy in the world, with a large youth demographic and a rising middle class, India offers exciting export opportunities for UK businesses.

When we think of overseas trade, we tend to associate that world with larger companies equipped with thousands of staff, warehouses and factories across the country. But it's a common misconception that is denying so many smaller businesses from pursuing their full export potential.

Customs Declaration Service

Q1: I have received an alert from HMRC advising me to prepare for the new Customs Declaration Service (CDS).  I currently export to countries outside the EU, can you tell me more about CDS and tell me when this new service will affect my exports?

Export can be a lucrative business venture, but in the midst of new processes and regulations, it’s easy to fall foul to some of these common mistakes.

Directors from Peli BioThermal, the global name in temperature controlled packaging, attended a prestigious regal reception hosted by His Royal Highness The Prince of Wales and members of the Royal Family.

Commenting on the passage of amendments to the Customs Bill, which commit the government to fully separating the UK from the EU VAT regime, Adam Marshall, Director General of the British Chambers of Commerce, said:

Making the decision to export internationally can be a huge turning point for your business. It opens you up to new markets, increases sales, reduces financial risk, and sets you up for enhanced global credibility.

The British Chambers of Commerce, in partnership with DHL, today publishes its latest Quarterly International Trade Outlook, based on survey and documentation data from UK exporters.

Commenting on the trade statistics for September, released today by the ONS, Mike Spicer, Director of Research Economics at the British Chambers of Commerce (BCC), said:

The British Chambers of Commerce (BCC) today publishes its Quarterly Economic Survey – the UK’s largest and most authoritative private-sector business survey.

The British Chambers of Commerce (BCC) has today slightly downgraded its medium-term outlook for the UK economy over the next few years. While the BCC has slightly upgraded its UK growth forecast for 2017 from 1.5% to 1.6%, its growth expectations for 2018 and 2019 have been cut from 1.3% to 1.2%, and 1.5% to 1.4% respectively.

The British Chambers of Commerce (BCC), in partnership with DHL, today publishes its latest Quarterly International Trade Outlook, which shows that while many exporters continue to put in a solid performance, wider economic factors are a cause of concern.

Commenting on the triggering of Article 50 by the Prime Minister, Theresa May, Adam Marshall, Director General of the British Chambers of Commerce (BCC), said:

The British Chambers of Commerce (BCC), in partnership with DHL, today (Thursday) publishes its latest Quarterly International Trade Outlook, which shows that confidence among exporters that their turnover will improve jumped in Q4 2016, ahead of further moves towards Brexit.

The recent fall in the value of Sterling is squeezing domestic sales margins, and increasing the cost base of UK businesses, according to the results of the British Chambers of Commerce’s (BCC) latest International Trade Survey. The findings, released today, also indicate that the weak pound is expected to push up the prices of products and services.

Giving his full reaction to the Autumn Statement, Adam Marshall, BCC Director General, said:

“Philip Hammond has delivered a responsible, solid and focused package that will reassure both business and markets.

The British Chambers of Commerce (BCC) Quarterly Economic Survey – Britain’s largest and most authoritative private sector business survey, based on over 8,500 responses from firms in Q1 2016 – suggests that growth in the UK economy continued to soften in the first quarter, with most key survey indicators either static or decreasing.

The British Chambers of Commerce (BCC) has today downgraded its UK GDP growth forecast, from 2.5% to 2.2% in 2016, and from 2.5% to 2.3% in 2017; for 2018, included for the first time in the forecast, GDP growth of 2.4% is predicted.

• Businesspeople paying close attention to debate on UK’s membership of the EU - but say it has had little material impact on business to date
• ‘Remain’ camp ahead two-to-one amongst business voters, but significant divisions exist on size and export lines
• Renegotiated deal for the UK unlikely to change voting intentions of two in three business leaders.

After a year that included a number of wasted opportunities, John Longworth, Director General of the British Chambers of Commerce, calls on ministers to make 2016 a year of action, with the ultimate aim of putting the UK economy on a strong and more sustainable footing.