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Adapting to Brexit: the top 5 tips

Adapting to Brexit: the top 5 tips

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Currency: Whilst the devaluation of the pound has already started businesses should try to see the commercial opportunity. A weaker pound has already expedited demand overseas and increased margins for suppliers “heritage” or “British” focused marketing and branding targeted.

Innovation: The opposing side to the devaluing pound is the increased price of imports. This makes an ideal market for British grown or British originated goods and also an ideal time to develop British made versions of imported products.

Staff & Skills: Many food and drink labourers and staff employed by UK businesses are of EU-origins and it is vital they receive the correct support and advice regarding their future, if they are not UK citizens. It is also important to consider that staff may choose not to be come UK citizens and in turn positions may be unfilled.

Tariffs & Customs: New trade tariffs and customs are likely to come in to play when we leave the EU. The government and businesses must work together to make the rules clear on charges and any new rules and regulations to avoid as many disruptions and disadvantages as possible.

Location: For those still wishing to grow and trade within the EU it might be worth considering an EU manufacturing base to help avoid the issues.

 

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