What the New UK-EU Deal Could Mean for Your Business

The UK government has agreed a new trade deal with the European Union, aimed at making it easier to do business across the Channel. This follows recent agreements with the US and India and is being presented as part of a wider effort to support jobs and help businesses grow.

The EU is still the UK’s biggest trading partner, but many businesses have faced added costs and delays since Brexit. This new deal intends to reduce some of that pressure.

What’s changing?

A few of the key points include:

· Simpler food and drink trade: Some checks on food, plants and animal products will be removed. This should make it easier and quicker to move these goods between the UK and EU, including Northern Ireland. It may also lower costs for businesses and help keep prices down for consumers.

· Support for British producers: The deal allows UK food producers to sell certain items, like burgers and sausages, back into the EU – something that’s been restricted since Brexit.

· Steel industry boost: UK steel exporters will avoid new EU charges under a special arrangement that the government says will save around £25 million a year.

· Energy and emissions: The UK and EU will link their systems for trading carbon allowances. This move could help UK companies avoid a new EU carbon tax due to come in next year.

· Help for coastal businesses: A 12-year agreement that extends fishing rules in UK waters for the EU has been agreed. There’s also £360 million in funding promised for coastal communities, including money for new equipment and training.

· Smoother travel: UK holidaymakers will be able to use more fast-track eGates at EU airports. Pets will also be able to travel without needing extra certificates each time. Although freedom of movement is not returning, there are plans to let young people work and travel more freely under a future youth experience scheme.

What this may mean for your business

If your business trades with the EU – whether that’s selling food, making goods, or moving products across borders – this deal could make life a bit easier. Fewer checks and less paperwork could help cut delays and bring down some of the added costs of cross-border trade.

It’s worth noting that while the headlines have been announced, some of the details are still being worked out. You may want to keep your eye on how the changes are put into practice. Looking ahead

This deal won’t reverse all the changes brought in by Brexit, nor does it rejoin the UK to the EU’s single market or customs union. But it may offer some relief if your business has had to struggle with new rules over the past few years.

If you trade with the EU, this could be a good time to review your processes. Alternatively, you could look at whether the changes could open up new opportunities for your business.

Whether because of the new trade deal or not, it is always a good time to look at ways to grow your business. If you need some ideas, why not ask us for your free copy of ’57 Ways to Grow Your Business’. This is our guide to help you maintain profitability and strengthen your position in the market.

See: https://www.gov.uk/government/news/pm-secures-new-agreement-with-eu-to-benefit-british-people