SMEs have their say on trade tariff negotiations

Nick Smith, Group MD of Reward Funding provides an insight into the trade tariff results from Reward’s SME Funding Survey.

“The latest results from Reward Funding’s SME Survey reveal that over half of SMEs (53%) anticipate they will experience a negative impact on their business with new import tariffs imposed by the US”, said Nick Smith, Group MD. “Respondents cited potential supply chain disruption and increased costs of American raw materials and components as key concerns. Additionally, 18% believe such tariffs could cause currency market fluctuations, while around one in ten (12%) warn of risks to profitability and growth of their business, and 6% feel it will cause cash flow challenges. These findings highlight the continued unease among SMEs regarding the broader implications of international trade policy shifts. Let’s hope negotiations between the UK and US continue positively and this cloud can be lifted from any business impacted by the tariff uncertainty.”