Half of region’s businesses say new EU rules have disrupted business
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Half of Liverpool City Region’s business community say their organisation has been disrupted as a result of the UK’s new trading relationship with the EU.
More than a third (38%) of businesses also say they are worried about recruiting from the EU as a result of new rules relating to immigration from the Euro Zone.
The research, carried out by Growth Platform’s Post-EU Exit Transition Service, also found that more than a third (36%) of regional businesses said they could be forced to cease trading as a result of the new trading relationship with the EU, with in excess of 50% saying the new rules could even restrict their growth.
However, the research did show some positive signs, with 70% saying they felt their business was fully compliant with new EU trading rules, with a further 50% believing that the new trading relationship offered opportunities for their business.
Janice Mears, head of business growth at Growth Platform, said: “The EU transition period passed in January of this year and it’s heartening to know that businesses in our region are feeling confident about their organisations’ compliance with new EU trading rules.
“However, as the results of our research show, there is still work to be done in order to get more businesses up to speed with the regulations and become more aware of the opportunities that are still available in the trading block.”
The Post-EU Transition Support Service was launched in early 2021 and aims to provide Liverpool City Region businesses with the guidance, resources and tools they need to navigate the UK’s new trading relationship with the EU.
As part of the service’s offering, regional businesses can register for free one-to-one advice sessions with Growth Platform’s team of EU transition advisors.
The sessions are designed to give businesses advice on how to best align their operations with the new EU trading arrangements, which came into force on January 1, this year.
As part of the service’s wider offering, businesses also have access to a central online hub of tools, guidance and news relating to the new trade rules.