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Navigate Import Complexities


The UK is a global trading powerhouse, importing goods worth a total of £581.3B in 2023. Importing does not only benefit individual businesses but is a cornerstone of economic growth. As of 2023, the Northwest region imported a total of £45bn and was home to over 25,000 importers, with 63% importing from the EU and the remainder from the rest of the world. 

 

Imports can diversify product offerings and encourage innovation, as well as optimise your supply chain and mitigate risks by accessing a wider range of suppliers. Moreover, importing goods from countries with higher production efficiency can often be more environmentally friendly than solely relying on local sources, despite transportation costs. 

 

However, failing to complete import documentation correctly can lead to significant delays, hefty fines, and even the seizure of goods, which can tie up your capital, disrupt your supply chain and have a devastating impact on your bottom line and reputation. Constantly changing regulations may also mean that your business is not reaping the benefits of FTAs.  

 

GM Chamber is actively committed to support businesses as they venture on their global trade journey.  Join us on the 25th of September as our Accredited Training Course on Import Customs Procedures gives you skills and knowledge to handle your customs documentation with ease. Gain insights into duty and VAT suspension schemes that could benefit your business, as well as the latest regulations to ensure your business remains compliant and ahead of the curve. 



 

Source: Office of National Statistics 

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