Well it was, until the pandemic trumped it! A real double whammy! Only a little over half of businesses in the UK might be ready to meet the challenges of Brexit, from January 2021.
“For importers, exporters, freight forwarders, customs brokers, consultants already engaged in international trade or those looking to access new markets, now is the time to review existing business plans, assess strengths and opportunities, and develop new strategies for business life beyond January 2021, after the transition period has ended” Dinesh Unadkat affirms.
Regenerating the economy, finding new trading partners, and nurturing mutually beneficial business connections coinpal and supply chains in a post COVID-19 and Brexit era are central to Government policy, regardless of the outcome of the current negotiations or the terms of any exit agreement.
Doing business in any emerging or established market is a challenge, but can be a rewarding journey, if you follow some key steps and develop a market entry strategy that is right for your business, products, and services. From country to country, industries and sectors vary vastly.
We can help you to get to grips with your preferred country/countries and all relevant technicalities, or guide you through the “dos and don’ts” and help you to shape your strategy, for moving forward.
Listening to the presentations during the recent HMRC and ACITA (Automated Customs and International Trade Association) Border Operating Model webinar and other debates, it is certain that future arrangements will be challenging to say the least. Our exit from the European Union will create significant change to customs process and procedure, border formalities, VAT, and other regulatory regimes.
For instance, obtaining an EORI (Economic Operators Registration and Identification) number, or AEO) (Authorised Economic Operators) status or accessing UK Global Trade Tariffs for your products etc., are just a few of the Brexit readiness planning checklist items, that will be key to shaping import and export strategies.
These in turn will help you to maximise on Free Trade Agreements, expand or diversify into different markets, manage cash flow and currency fluctuations in a volatile market, and also ensure that relevant management and staff training are in place.
Overcoming these complexities, technicalities, and protocols systematically will help to ensure that SMEs and large businesses can tap into the medium and longer-term opportunities that await them in emerging markets in South and East Asia.
Your Brexit readiness journey starts now!
E-mail ash@ashverma.com for a free, confidential exploratory discussion about your Brexit readiness plan.
