The Impact of Brexit on Import and Export Businesses
Posted by haulystic on November 19th, 2019
What is Brexit?
On 23rd June 2016, UK electorate voted to leave the EU. Negotiations are still in process between the EU and UK governments in deciding how the movements of services, goods, people, and capital all over the EU and UK borders will be processed after Brexit.
On seeing this change from a business point of view, Britain is currently a member of the EU’s single market and customs union, which allows its states to function as a single trading area with a combined VAT system and no border checks or tariffs.
All these are going to change following Brexit and impacts businesses, especially import and export businesses.
When Does Brexit Happen?
Brexit is going to happen at 11 pm on 31st October 2019. There would be some changes in business regulations following Brexit, which include:
How Does Brexit Affect Import and Export or Logistics Businesses?
Brexit will impact and change several processes of import and export businesses, which include:
How Long Does It Take to Adapt to Brexit?
It is impossible to predict the accurate time to adapt to Brexit rules and regulations. However, you should start planning immediately and creating the right measures to get used to new rules and regulations. It would be good if your business adapts to the new rules during the transition period itself.
How Can A Supply Chain Specialist Help You Adapt to Brexit?
If you want your business to adapt to Brexit laws, regulations, and other changes smoothly and quickly, you need to get in touch with a supply chain specialist. A supply chain specialist will first determine how Brexit is going to impact your logistics or import/export business and include necessary changes in your plan.
A supply chain specialist will take care of everything that your business requires right from shipment to billing and customs service. Also, they will ensure all the processes are happening as per the new rules and regulations of Brexit.
Are you worried about Brexit? Get in touch with our supply chain specialist. We look forward to helping you with all your logistics requirements following Brexit.Also See: Chain Specialist, New Rules, Transition Period, Supply Chain, Uk, Brexit, Eu
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