Post-Brexit Options for trading with Europe if its a no-deal
SC Advisors and partners Thomondview trust Ltd held a post-Brexit talk on Thursday 12th September tackling the uncertainty over a no-deal Brexit.
On Thursday 12th September SC Advisors, a family-run company that supports business enterprises based in Birmingham, and partners Thomondondview trust ltd, an independent professional corporate trustee based in Ireland, held a seminar at the iCentrum in Birmingham to discuss options of trading with Europe post-Brexit.
Brexit is due to take place on 31st October 2019, and with a level of uncertainty around what will happen, there is no better time for Britain to stand together in unity. Companies SC Advisors and Thomondview are trying to tackle uncertainty by offering solutions to companies who export or import within Europe.
Joe Diggins Director of Thomondview trust held the presentation where numerous members of financial firms, banks and other businesses who trade with Europe took a seat to learn a possible solution if a no-deal Brexit takes place.
The presentation started with a talk where the discussion was what could happen when 31st October arrives? Joe said:
“Free-movement will end, goods, services, capital and people end if there is a no-deal”.
He goes on to suggest to avoid this uncertainty, companies have the option of moving their businesses to Ireland. Ireland is the largest English-speaking country in the EU with similar laws, documents and commercial arrangements as the UK. With this in mind, Ireland establishes an opportunity to channel non-UK business through the country and preparing for defence by transferring assets abroad.
With Brexit on the horizon, companies SC advisors and Thomond trust claim UK businesses, especially SMEs and smaller companies, will face major challenges on the event of the UK leaving the single market. The result of this being delay of border controls and increased paperwork disrupting the supply chain. They feel the critical challenge will be preserving access to the single market once the UK leaves the EU.
The single market refers to the EU being a single trading unit without border restrictions. With the idea of trading through Ireland in place, goods imported from countries outside of the EU that are then imported into Europe could be transferred to the Irish company. This ensures the onward sales into Europe remains in the single market.
Looking beyond tackling the potential struggle if a no-deal Brexit takes place, Made in-group member Gardner Denver are deciding not to look at the negatives. Gardner Denver specialises in a wide range of compressors, pumps blower systems and loading systems.
They deliver highly-experienced and expert services to different types of industries, taking a tailored hands-on approach to providing the best possible service to each of their customers. GD has recently established facilities in India, China and Brazil and have 6,400 members of staff across 40 key manufacturing facilities and 30 service centres.
Peter Satch, Sales Director at Gardner Denver Ltd, explains how their global presence gives them security if we see a no-deal Brexit:
“A large amount of our supply chain is UK-based, and we export globally not just in Europe. The British brand is still very, very strong, and should only be promoted more as the industry continues to grow. I don’t see this changing”.
Although Brexit seems to bring a level of uncertainty amongst many businesses whether it be finance or manufacturing, having a plan in place may be beneficial in the run-up to the Brexit outcome. Despite this, many British manufacturers are confident of growth with 85% of Made in members confirming this in a survey in December 2018.