With just under 40 days to go, the FSB Chair is calling for support measures to help small businesses get ready…
November 23, 2020
More support is needed for small firms as the EU transition ends, but the COVID-19 pandemic continues, according to the Federation of Small Businesses (FSB).
New figures from the Office for National Statistics (ONS) reported a 1.1% growth in September and a 15.5% increase in Q3, which both remain down on February’s figures.
Mike Cherry, national chair of the FSB, said small firms still have little idea about their future trading relationship with the EU, and it is hugely important that they can prepare.
To help small businesses across the UK, the organisation is calling for support measures such as UK transition vouchers to support the new trading relationship, alongside a reduction to national insurance contributions to lower the cost of employment.
The FSB is also calling for further support for those setting up their own firms and self-employed individuals.
Cherry added:
‘The weeks and months ahead are set to remain difficult with many unknowns, so it’s never been more important for the public to get out and support their local businesses, either in person where it is safe to do so, or online‘
‘The festive period should normally be a buoyant time for business trading, but this Christmas may not be the bumper period that many small firms will be hoping for. Which is why support from both the government and the public could not come at a more crucial time.’
Brexit transition: Time is running out
As part of the Government’s awareness campaign, there is an online checker tool available to identify the necessary next steps required for businesses in different sectors.
This includes:
Making sure your business is ready to export or import from/to the EU, for example by getting an EU EORI number or registering with the relevant Customs Authority
Check if you need to pay a tariff on the goods your business imports from January 1, 2021 as you risk penalties and your goods not getting through customs if you do not pay the correct tariff
Ensure your business is ready for importing or exporting goods by deciding how you want to make customs declarations and whether you need to get someone to deal with customs for you.
Details of the key actions that businesses and individuals need to take before the end of the transition period can be found by clicking here.
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With Morgan Reach at the helm of your Brexit planning, you can rest assured that whatever the future holds, you’ll be ready. For assistance with business enquiries about EU exit, please contact us today.
