The UK’s retail water market is changing. From 1 April, 1.2 million...
Valentine’s Day is the perfect day to show how much you care about your...
'Ian's update' will bring you up to speed with what I've been...
I run a small online retail business. Should I be concerned about the impact of Brexit on the delivery of products to customers in the EU?
We still don’t know what’s going to happen during the negations and whether or not the free movement of goods between the UK and the EU will remain unrestricted. If restrictions are introduced as part of the trade agreement, which is a strong possibility, every package your business delivers to a customer within the EU would be required to go through customs in the recipient country. This would result in slower deliveries. Furthermore, packages over a certain value would be subject to VAT, import duties and tariffs, all of which leads to additional costs to your business and/or your customers.
Nothing is going to change in the next year or two until the negotiations have been finalised, so you can continue to deliver goods and packages to your EU customers in the same way you always have. However, it would be wise to start planning ahead in preparation.
One potential benefit of Brexit is that you may attract more UK-based customers. The resulting depreciation of the pound has made the UK a less attractive market to online retailers based in the EU and US. Now is the time to make your move and find ways to increase your customer base right here at home.
|Share this blog article|