Winter is upon us, both in a physical and financial sense. With frost laying heavy on the grass in the mornings, car windows to scrape before the commute to work or school run, this can be a very difficult time of year.
We are in the depths of winter in a financial sense too. An economy in recession, interest and inflation at their highest for decades, a war in Europe playing havoc with commodities and a squeeze on real-term incomes. Not to mention the economic effects of BREXIT. If you allow it, this unprecedented combination could overwhelm you.
But businesspeople are a resilient breed. Just like in a meteorological winter, where we don extra layers, warmer boots, gloves and hats to protect ourselves against the cold, we can do the same for our businesses. Doing things the same will only result in the same or lesser results (or freezing appendages!).
Support for your Export
January is an important time to start planning for the new financial year too. We’re often asked by clients for support to help grow export lanes and more recently for advice on winning back European business which was lost because of BREXIT.
Reasons to be Optimistic
As our closest neighbour and biggest trading partner, Europe is the logical first step for a company to explore export trade into. British goods are well respected for their quality within Europe and the devaluation in Sterling has made them very attractive financially.
Brexit = Customer Inconvenience
BREXIT not only brought about issues for British companies but for their European customers too. Goods which are exported by default, need to be imported – adding additional layers of complexity which often results in frustration, delays and as we’ve seen over the last two years, loss of trade.
Complexity such as
- Finding a customs agent
- Paying or accounting for import VAT
- Understanding and paying duties
- Unforeseen delays in transport and associated downtime
Make your Exports Attractive Again
There are ways however, of making all these problems for European importers disappear which in turn allows UK exporters to compete on a level playing field with their European competition. Using innovative cross-border solutions could allow UK exporters to re-win the business they lost after BREXIT and use the same tactics to grow new export lanes too.
As sure as springtime will replace winter, Britain will climb out of recession. Re-opening the European market will allow UK exporters to retain and grow the business they had before Brexit.
If we don’t the UK risks losing out to less inconvenient European or Worldwide sources and the overall quality of the products on the market are reduced as a result.