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Cautious optimism among businesses amidst a challenging economic environment.

Released today, Business West’s Q3 2024 Quarterly Economic Survey reveals cautious optimism among businesses in the South West, with confidence levels holding steady despite a challenging economic environment. The survey shows business confidence at a resilient net balance of 35%, while confidence in the UK economy has seen modest improvement, rising to a net balance of -12% from -21% in the previous quarter. However, ongoing concerns around workforce skills shortages, profitability, and economic uncertainty persist. This quarter’s report also sheds light on businesses' progress toward Net Zero, highlighting both awareness and the need for further action.

Anonymous Author

24 October, 2024

Business West

A guide to ensuring your EUR1 is correct for mixed-origin shipments

Do you want to use preferential duties but ship a mixed-origin consignment? Don’t fret! You can still use an EUR1 to cover the preference products, even if they are packed together with non-originating goods, by following the steps below: Complete your EUR1 form as normal, following the guidance here: How to complete the movement certificate - GOV.UK (www.gov.uk). Part contents only: this statement should appear in the ‘marks and numbers’ section of box 8 on an EUR1 if both originating and non-originating goods are packed together. For consignments of both originating and non-originating goods, describe only the originating goods. You may be unable to avoid showing non-originating goods on the invoices. If so, mark the invoice (for example, with an asterisk or a star) to show which are non-originating goods. Then put an appropriate statement in box 8 immediately below the description of the goods: ‘Goods marked with a star on the invoice are non-originating and are not covered by this certificate EUR1’. Gross weight: Only the gross weight of the goods for which preference is going to be claimed on should be included. If this is not possible, the full weight can be shown but may not be accepted by customs overseas. If you are showing the total gross weight of both originating and non-originating goods, please add the following in the notes to Chamber section of your application: ‘I understand the Chamber will not be held responsible for rejection of this EUR1 on the grounds of weight discrepancy’. Print out or receive your validated EUR1!

Beth Rice

22 October, 2024

Business West

BCC Press Release: The Trade Confidence Outlook

BCC’s Trade Confidence Outlook for Q3 2024 shows a dip in SME exporters already poor performance on overseas sales. Under a quarter of exporting SME firms (22%) saw their overseas sales rise in Q3, compared to 27% in Q2. More than half of all SME exporters (54%) saw no change in overseas sales, and 24% reported a decrease. BCC’s SME export sales indicator has consistently underperformed compared to domestic sales indicators since the pandemic. The Trade Confidence Outlook, conducted by the BCC’s Insights Unit, is a survey of just under 2,000 UK SME exporters.

Eleanor Ferrari

22 October, 2024

Business West