Download Briefing Paper 73 Briefing Paper 73 – March 2023 Sophie Clarke, Michael Gasiorek and Aldo Sandoval Hernandez Key Points Business Challenges and Opportunities Difficulties and disadvantages of the TCA Supply chain challenges Conclusion Methodological note Key points Analysis of three surveys of firms conducted by the British Chambers of Commerce reveals that the biggest challenge facing firms across 2021 and 2022 has been increased costs. Labour, skill and supply chain issues are also major concerns but ease slightly in mid-2022. Significant issues for firms working with the new TCA trading arrangements with the EU are those associated with red tape and bureaucracy, shipping/transport issues and delays, increased costs, and customs and border controls. The least significant issue, in the context of the TCA, would appear to be labour and skill issues. Specifically related to the TCA, the biggest changes over time are the rise in the significance of taxes, tariffs and duties for firms, the role of increased costs for firms, and the increased perception of a competitive disadvantage for the UK. There is a notable rise in negative sentiment in the North East and in Northern Ireland. Negative sentiment is the highest in public administration, and [...]