Expert Opinion: How Stockport’s SMEs can trade with more confidence after a decade of Brexit change

Paul Richards, partner at the Stockport office of accountancy and business advisory group, Xeinadin, discusses how, 10 years on from the Brexit vote, SMEs in the borough are continuing to trade internationally.

Ten years on from the Brexit referendum, and with more than 360,000 UK businesses still moving goods internationally, Stockport firms are dealing with the commercial consequences of a more complex trading environment.

For many owner-managed firms, the impact is felt in the everyday work of running the business. With almost 14,000 businesses and 138,000 people working locally, Stockport has a sizeable SME base exposed to even small shifts in cost, admin and delay. The frictions and challenges that any business has to navigate can be many and varied; exporting can involve more paperwork than expected, importing can carry additional cost, EU customers may require different documentation, and suppliers may adjust terms in response to their own pressures. Over time, these changes have affected pricing, cash flow and confidence.

Stockport has a strong SME base across manufacturing, ecommerce, food and drink, logistics, professional services and the creative industries. Many of these firms have links to Europe, whether through customers, suppliers, materials, software, specialist parts or distribution routes. Even businesses that see themselves as largely local can find that part of their cost base is influenced by cross-border trade.

That is why Brexit continues to matter for local firms – even ten years on. Most owners are less concerned with the politics of the decision than with the question of how it affects their margins, their customers and their plans for growth.

With an eye on growth, a sensible starting point for any business is to look again at the numbers. Supplier terms, freight arrangements, customs codes, VAT treatment, insurance, delivery times and customer pricing should all be reviewed against current trading conditions. Some costs may be unavoidable, but others may have become embedded because a temporary fix was left in place for too long.

Cash flow also deserves close attention. Border delays, higher stock levels, extended payment terms and upfront duty or VAT costs can all affect working capital. A forecast based on pre-Brexit habits may miss pressure that has now become part of regular trading. For businesses working on tight margins, that can make the difference between taking an opportunity and deciding it carries too much risk.

There is also a responsibility on policymakers and regional leaders to make support easier to access. Businesses in Greater Manchester need clear guidance, responsive advice and support that reflects how regional firms trade. Stockport’s economy is built on local relationships, yet many of its businesses serve customers well beyond the town. Support should reflect that mix of local roots and considerations around wider markets.

The latest focus on the potential for devolution could also potentially help if it gives Greater Manchester more ability to respond to these needs directly. Stockport sits within one of the UK’s most important regional economies, yet many firms can still feel caught between national policy made in London and economic debate dominated by Manchester city centre. A stronger local voice would help make sure support reaches businesses across the borough, including those on industrial estates, high streets and business parks.

Stockport’s SMEs have already shown resilience through a difficult period. The focus now should be on turning that experience into stronger planning, better margins and more confident decisions in order to power growth.