PROSPER MAGAZINE: ISSUE 01 | BREXIT
HOW PREPARED IS YOUR BUSINESS FOR BREXIT?
GET A FREE PERSONALISED BREXIT BUSINESS REPORT
As the country prepares to leave, with or without a deal, businesses across the country, who are already being impacted by Brexit related uncertainty, still require help and guidance for what lies ahead.
The Black Country Chamber of Commerce has joined forces with the Greater Birmingham Chambers, Coventry & Warwickshire Chamber of Commerce and the West Midlands Combined Authority to offer businesses their very own personal Brexit Health Check in preparation for leaving the EU.
When the UK leaves the EU, it will represent the biggest fundamental change to the UK’s political and trading relationships, so making sure businesses know where they can go for support when they need it will be critical - our Brexit Health Check will help them prepare.
Recent World Trade forecasts show that global trade will drop. This is said to be due to the increase in tariffs and barriers in trade of 70%.
Prosper spoke to one Black Country manufacturer with a £12 million turnover who wished to remain anonymous, “Confidence in manufacturing is low as many indices are dropping to levels that make it difficult to operate at profitable levels.
“Automotive production is down and unlikely to recover soon, the uncertainty around what type of Brexit we are going to have increased the lack of confidence, therefore, investment decisions are being put off.
“We are quoting for work in Europe and have been told to reduce the UK content to a minimum so that our customers minimise their exposure to Brexit.
“This may mean we cannot fund contracts on existing terms. We have switched from concentrating on Europe to the US and having some success. But difficulties getting Visas is restricting our ability to work in the area – as are US tariffs. Interestingly we are told this is due to the UK being downgraded below the EU due to Brexit.
“We are four months into the new financial year and have no capital sales this year. Our turnover is certain to drop and so redundancies are certain to follow.”