Small businesses would be deterred from selling their products to Europe if Brexit leads to tariff barriers being imposed, a new report from the Federation of Small Businesses (FSB) says today (Tuesday).
The report reveals that 27% of small firms that export would be much less likely to trade with the EU should any tariff – no matter how low – be introduced. Small firms also view non-tariff barriers to be just as much of a problem for them as tariff barriers.
And it found that 63% of small firms see Europe as their most important overseas market, well ahead of any other market.
Commenting, Phil Wilson MP, leading supporter of Open Britain, said:
“This report lays bare the threat hard Brexit poses to Britain’s small businesses. When over a quarter of firms would be deterred from selling to Europe by the imposition of tariffs, it is clear that a deal with the EU that does not deliver the ‘exact same benefits’ David Davis promised would hammer businesses and put jobs at risk.
“Small businesses overwhelmingly see Europe as our most important trading partner, which should focus ministers’ minds on getting a good trade deal with Europe rather than threatening to walk away without a deal.”