BRC: Counterfeit goods disadvantage small businesses

Date: 27th February 2008

The UK trade in counterfeit goods strips company accounts of a "significant amount", according to the British Retail Consortium (BRC).

It's claimed by the BRC that consumers buying counterfeit goods would have bought genuine items if fakes were not available to them.

BRC spokesman Richard Dodd says that "rogue traders" must be tackled, for the benefit of both businesses and the consumer.

"In terms of what needs to be done, obviously we back rigorous enforcement. It is the job of local trading standards departments to enforce against rogue traders," Mr Dodd commented.

After a study by the BBC's Money Programme it emerged that 19 per cent of Brits had bought or suspected they had purchased counterfeit items - however, ten per cent of consumers believe there is nothing wrong with buying fake goods.

It was also revealed that counterfeiting cost the UK economy around £11 billion in 2007.

The BRC is the UK's leading trade association, representing various retail outlets throughout the country, from small businesses to large chain stores.