Small Businesses: What If We Leave The EU Without A Deal?

Brexit is very important right now, so what will happen to the UK's importers and exporters should we leave the EU without a deal?

You may have noticed that the Government have been publishing technical notices covering all aspects of the economy should there be no deal with the EU. They offer a lot of insight and are important reading for importers and exporters.

"Should we leave without a deal, the UK would revert to a 'third country' status!"

This means the UK would be treated just like other countries who lack a free trade agreement with the EU. Our importers and exporters would face an unprecedented increase in red tape and this would massively affect small and medium-sized businesses who lack the staff resources to manage it.

Increased tariffs, more admin and additional legal reporting will lead to extra complexity whilst at the same time affecting productivity.

For businesses that already trade outside of the EU, their existing processes could easily be transposed to trading with European Union countries. For those who have only ever traded within the EU, this new level of red tape means they need to start planning now.

Ok, so until negotiations have concluded and we know if we have a deal or not, preparations are going to be difficult, but it is important that every business, large and small, understand the basics and gets proper advice on its own importing and exporting position, regardless of the outcome of Brexit.

If you feel inspired to find out more about anything I've said here, do call me on 0333 335 0453 or leave a comment below and I'll be in touch as soon as I can.