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55% of EU exporters in British food business survey report lower profits
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Fifty-five percent of the small and medium food and drink manufacturers surveyed that export to the European Union reported lower profitability after post-Brexit trade requirements took effect in January 2021. Britain’s environment and food department published the finding on 13 November. ICF surveyed 600 manufacturers in England, Scotland and Wales for the department, including firms outside that exporter subgroup.
The survey also found that 47% of the respondents who import from the EU reported lower profitability. Less paperwork, lower costs and shorter border delays topped the priorities listed by businesses when asked what would help them start or expand EU exports.
The figures reflect what respondents reported about their own businesses. They do not measure the change in profits across the industry. The department released the findings while the UK was negotiating a food and drink agreement with the EU, ahead of the 20 November summit.
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