The FT has reported on a 2023 Deloitte survey of decision makers at 750 UK-based businesses trading internationally. Three quarters (74 per cent) of participants whose businesses traded in Europe suffered a negative impact to their EU trade as a result of Brexit. Around one-third said trade with the rest of the world had compensated for those EU losses. But overall it is negative.
A UK Institute of Directors survey of 580 members in September 2022 found that Brexit affected the ability of UK companies to export, both through creating barriers to trade and also increased competition from EU-based companies. Some UK companies are looking at new markets but this is not straightforward and is second best for many reasons not least additional costs and relationship building.
These surveys point to two basic truths about Brexit. One is that Brexit is not going away as the trade barriers are structural and permanent. And secondly they amount to a persistent erosion of UK competitiveness
The cost of Brexit to UK companies is creating a very difficult, long term trading environment for them which is a competitive advantage for similar Irish businesses and for Ireland generally as many UK businesses are relocating to Ireland.