Research from the Centre for Economic Performance indicates that since Brexit, smaller UK exporters have faced significant trade barriers leading to a £27 billion shortfall in goods sales to the EU.
The study highlights that the reintroduction of customs checks and the exit from the EU's trade framework have particularly impacted smaller businesses, leading to a 30% decline in exports.
While many smaller firms struggled, larger companies were better positioned to cope with new regulations, resulting in relatively stable export performance despite the post-Brexit trade landscape.
Although there was a 6.4% drop in UK global exports overall, services exports to the EU have remained steady, indicating resilience despite challenges in goods trade.
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