BCC: Trade Strategy Must Deliver In A Changed World

Results from the BCC’s Trade Confidence Outlook survey for Q4 of 2024 found that:

• More than a quarter (26%) of SME exporters saw overseas sales decline
• Just over half (52%) reported no change in their exports and less than a quarter (22%) experienced a rise.
• The proportion of firms increasing exports has remained at least 10 percentage points lower than for domestic sales since the pandemic and Brexit.

The British Chambers of Commerce has submitted ambitious plans for the Government’s trade strategy as this new data shows UK SME exporters continue to toil.

SME exporters are also facing an inflation crunch, as 56% expect their prices to rise, while 43% expect no change, and only 3% expect a decrease. The raft of cost pressures, coming particularly from employment and tax cost rises, is putting further stress on many.

The’s BCC’s Trade Strategy Manifesto sets out vital action the government should take to boost exports, and encourage inward investment, in a rapidly changing geo-political landscape.

It identifies how the UK can protect and grow its trade profile in a world of increased tariffs and protectionism, where the US, China and EU all loom large.

   William Bain, Head of Trade Policy at the BCC, said:   “If we get the trade strategy right then it could herald a new era of government and business co-operation, leading to stronger exports and higher economic growth.

“The prize is huge, but the pitfalls are many and we will need smart and agile action by politicians, businesspeople and policymakers.

“That means focusing on the fundamentals. We are already the second largest exporter of services in the world, these cannot be hit by tariffs, so we must lean into that natural advantage.

“We also need to leverage our skills in economic diplomacy; to build secure supply chains, expand digital trade, influence the debate on tariffs and form new partnerships to build consensus.

“Support for our SME exporters and encouragement to help them start selling overseas must also be put on rocket boosters.

“Over 40 per cent of Chamber members export due to the framework of support we place around them. This level of advice, training and guidance needs to be replicated across the land.

“We also have an edge on many countries in a range of sectors which must be promoted. These include advanced manufacturing, life sciences, climate technologies, pharmaceuticals, energy and construction.

“The next few years will be pivotal for the UK’s export success for decades to come. It is crucial the Trade Strategy puts us in the best possible place to deal with the challenges and take full advantage of the opportunities.”

The BCC’s Trade Strategy Manifesto sets out 29 recommendations across six areas – economic diplomacy, imports and supply chains, trade agreements, green trade, digital trade and export support.

Among the main recommendations are:

1. Provide leadership on spreading digital trade across the world

2. Give SMEs better support to export and promote their products

3. Scale up green exports

4. Forge strategic relationships with global trading powers and institutions 

5. Promote fast growing markets and sectors to secure long-term growth

PwC informs you that Bulgarian companies can apply for grant funding for employee training
under the “New Skills” procedure. Take advantage and develop your team’s skills!
PwC professionals can assist you in preparing a project proposal and managing the entire
application process.

Learn more about the procedure below and request a free consultation with PwC to receive
additional guidance.

The deadline for applications is 5 March 2025.
Who can apply: All types of enterprises.

Eligible project activities:
● Provision of training for acquisition or improvement of vocational qualification (but not
higher than third qualification degree) of the employees
● Specific trainings – acquiring specific digital skills, training for managerial staff to
enhance business skills, training on circular economy and green transition.
● Trainings for acquiring “soft” skills.

Eligible target groups persons who are employed in the enterprise on a labor contract
for a minimum of 4 hours daily at the time of submission of the application.

Grant amount: up to BGN 5,8 mln., which can be up to 70% of the eligible project costs.
Who can apply: Enterprises of all categories.

To support you in the application process, PwC team offers a free consultation. PwC
professionals will answer your questions and provide guidance for successful preparation of the
project proposal.

You can request your free consultation HERE.
More information about PwC’s services can be found HERE.

Videlina Bachkova, who represents GBR, is an incredibly talented rhythmic gymnast whose passion and dedication to the sport are evident in every graceful movement she makes. As she sets her sights on competing in international competitions, the need for funding has become paramount to ensure she can fully realise her potential and showcase her skills on a global stage.

The costs associated with such competitions can be overwhelming, encompassing not only travel and accommodation expenses but also entry fees that can add up quickly. Moreover, Videlina requires specialised apparatus, including ribbons, hoops, and balls, all of which are essential for both her training and her performances. These items are not just tools; they are integral to her routines and play a significant role in her success.

Additionally, high-quality leotards are crucial for her competitions. These leotards not only need to meet stringent competition standards but also need to reflect Videlina’s unique personality and style, allowing her to express herself fully as she performs. Unfortunately, the financial burden of these necessities can be a significant obstacle, and without adequate support, Videlina’s dreams of competing internationally could be at risk. It is essential for the community, local businesses, and potential sponsors to come together and support this promising young athlete.

By providing the necessary funding, they can help Videlina not only participate in these prestigious events but also inspire others with her journey. With the right resources, she can focus on her training, improve her skills, and ultimately achieve her goals in rhythmic gymnastics, making her community proud and possibly paving the way for future athletes who aspire to follow in her footsteps.

Bank details:

Lloyds Bank

Videlina Bachkova

Account No: 38897668

Sort Code: 77-77-54

If you are keen on supporting Videlina and have additional questions you can reach her mother Petia Kancheva at petia_kancheva@yahoo.com.

Responding to the latest ONS data on trade, William Bain, Head of Trade Policy at the BCC, said:   

“Across the last 12 months, UK goods export growth has been essentially flat. In the autumn, key trade metrics went into reverse on both goods and services.  

“A lack of consumer and business confidence globally has also weighed down on the UK’s trade performance at the end of 2024.  

“Fresh measures to grow exports and boost the economy will be key to seeing an improvement in UK trade for the year ahead.  

“With the threat of US tariffs also hanging over businesses, the Trade and Industrial Strategies must deliver a bold set of policies and support for exports.” 

November’s Goods Exports 

UK exports in goods fared slightly better in November 2024 than October but still fell. Export volumes dropped by 0.7% compared with a 2.6% fall the month before. The value of goods exports, which does not account for the effect of inflation, saw a small increase of 0.8% in November. There were lower pharmaceuticals exports to the EU, but power generator sales rose. Car exports to the Gulf and to the USA also increased.   

November’s Services Exports  

UK services export volumes increased by 1.1% in November, but this was down from a 2.5% increase in October. In value terms, without removing the effect of inflation, there was a similar increase in exports of services of 1.1%. 

UK Imports 

On the imports side of UK trade, goods import volumes fell by 1.8% in November, with a decrease in both EU and non-EU goods imports. However, automotive imports were up, as rises from Germany and Belgium led the way on a £0.2bn increase in transport and machinery imports.  

Services imports increased slightly in November, both in value terms (0.7%) and volumes (0.4%) measures. 

More detail on the ONS data can be found here. 

Source: British Chambers of Commerce

The 22th  edition of PwC’s Academy Mini MBA starts on 27 March 2025. The programme consists of 9 connected modules and takes 3 months to complete. It is aimed at all levels in all lines of business, owners of small and medium-sized enterprises, and those who are considering starting their own business. 

Among the many benefits for the participants in the programme are:

• Development of the most important business skills
• Clear understanding of organisations, their structure, and management methodology through specific mapping technique and sequence of modules
• Opportunity to acquire valuable knowledge that can be used in everyday business activities
• Analysis of concepts such as strategy, competition, finance, marketing, and leadership as well as technical areas such as accounting, project management, and others
• Learning a methodology for analysing their own organisation as well as others
• Learning from experienced local and international trainers in various fields
  

Early bird registration is open until 10 February 2025

If you want to find more information, you can visit PwC’s website or contact us at:bg_pwcacademy@pwc.com

If you want to apply for the Mini MBA programme, fill in the registration form. 

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• Exclusive buffet breakfast, crafted by Kempinski with more than 100 different items
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Deluxe room with town view: 

The offer is valid for new group requests for a minimum of 10 rooms during the weekdays (from Sunday to Thursday) from 18 to 22 January 2025 incl., 9 to 13 February 2025 incl. and from 23 February to 10 April 2025 incl. subject to hotel availability. The rates include 9% VAT, city tax EUR 1.34. The price for a half board supplement is per person, excluding beverages and is valid for advance bookings. 

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Effective from the beginning of the new year, the British Bulgarian Business Association will adopt the name British Bulgarian Chamber of Commerce (BBCC).

This significant milestone in the organization’s development coincides with the celebration of its 10th anniversary.

“The name ‘British-Bulgarian Chamber of Commerce’ reflects our maturity, broad scope of activities, and growing influence both in Bulgaria and the United Kingdom,” noted Miroslava Kostadinova, Chairperson of the BBCC.

To mark its 10th anniversary, the BBCC has planned a series of celebratory events throughout the year which you can review in our Events Calendar for 2025 here.

The Chamber will also continue its active efforts to propose legislative changes aimed at enhancing business efficiency. Additionally, several trade missions are underway, designed to create new opportunities for Bulgarian companies in the UK market.

For further details about the British-Bulgarian Chamber of Commerce and upcoming events, please visit bbcc.bg or contact office@bbcc.bg.

The British Embassy in Sofia is looking for an experienced and motivated Communications and Press Officer. You will be an all round communications professional providing a press officer function for the Embassy along with digital skills and experience of working on public facing communication campaigns. The Embassy is looking for a creative thinker who is comfortable operating in a fast-paced environment, and can help the Embassy achieve their policy objectives through the power of strategic communications.

What will you be doing?

This is a great opportunity to take on real responsibility in an expansive communications role – and use it to make a difference.

Reporting to the Head of Campaigns and Prosperity, you’ll be our first point of contact for media relations. You’ll build relationships with journalists and partners, and secure coverage that maximises the impact of the Embassy’s work.

On any given day you might be drafting press releases, arranging briefings, preparing social media text, pitching stories, answering media questions, helping develop communications plans or preparing an interview for the Ambassador. You’ll also manage the Embassy’s media monitoring, broadening our awareness and tracking the impact of your work.

You will also line manage the Embassy’s Digital Officer and lead the Embassy’s social media work.

Read more about the vacancy and apply here.

Dear BBBA members, 

Happy and successful New Year to you, your families and your colleagues! We are entering a milestone year, as we celebrate our 10^th anniversary and we are all very excited about it! 

Along with our annual sponsors, and friends at the British Embassy in Bulgaria and the Bulgarian Embassy in London we are looking forward to very successful and even more eventful months ahead of us.  

What will 2025 be for BBBA?

• Over 40 events are in our planned calendar. They are themed for topics such as law, HR, education, as well as will present great business networking opportunities for, I believe, each member. 
• We have increased interest in sponsorship so please hurry and let us know if you want to become a sponsor in the special anniversary year. 
• VIP events with ministerial and local authorities’ presence for some of our events. In addition to the locations provided by our members we will also host a few events at the British Residence in Sofia. 
• At least 4 sectoral business missions to trade shows and fairs in the UK and 1 business mission for British business to Bulgaria.
• 3 regional conferences in Blagoevgrad, Varna/Bourgas, and Veliko Tarnovo to reach-out to businesses outside of Sofia.
• Increased media activity and hopefully we will make the media our even better friends. 
• In 2025 BBBA will continue to support the business community in Bulgaria and participate in multi chamber initiatives in regard to the rule of law, and investment climate. We will continue our leadership in initiatives for changes in the Labour Code as well as in regard to the independence of the regulators.
• We are looking forward to welcoming our news members in 2025, who would like to join and to surprise them with the outstanding events calendar we have prepared. In the past 12 months BBBA has welcomed nearly 50 New members and this year we want to beat that!

Most importantly, we are excited that BBBA is becoming BBCC – British-Bulgarian Chamber of Commerce, a name that responds to our maturity, scope and ambition. Stay tuned for more news on that!

Thank you once again for your ongoing support and dedication to our cause! 

I wish all of you and your loved ones a healthy and prosperous New Year! 

Sincerely,

Miroslava Kostadinova

BBBA Chair

We’re thrilled to reintroduce Isabel Videva as our new Members & Partners Coordinator!

Isabel holds a BA in Political Science from the University of Salzburg and an MA in Diplomacy and International Relations from New Bulgarian University. She began her professional journey with BBBA as an Events and Communications Assistant, and we are delighted to welcome her back to the team.
Beyond work, Isabel is passionate about photography, swimming, traveling, hiking, Formula 1, and skiing—pursuits that spark her creativity and help her maintain a well-rounded perspective.

Connect with her on LinkedIn here. https://www.linkedin.com/in/isabelvideva/