October 18, 2017
A new blog by Effective Consumable Solutions explores the issues surrounding Brexit that will impact SMBs in the industry.
ECS’s blog begins by posing the crucial question, “What does leaving the EU mean for businesses like yours and ours?”, before going on to lay out the repercussions of Brexit.
Among them is the likely decrease in national income, with ECS declaring that the Brexit agenda “creates uncertainty around many functional parts of our country and leads to a whole host of questions”.
They also cite reduced access to the single market as the next most pressing issue. Having access to the single market gives UK businesses the ability to reach 500 million customers “with the freedom and ease of access to buy or sell.” With the institution of Brexit, “UK businesses are likely to incur extra import and export tariffs”, which the blog describes as “a huge problem”, due to the fact that 44% of Britain’s exports are bound for the EU.
On the other side of the coin, European businesses will similarly face higher trading costs with the UK, which is likely to have the effect of reducing overseas investment in the British economy and leading to “an increase in unemployment”.
As a result, the ECS blogs calls for a “British circular economy” and more British investment “to make up for these losses.”
See the full blog here.
Categories : Around the Industry