In this week's BS Fixings news article, we reported on a specialised training course completed by employees of our parent company BS Stainless. Here we look at some of the potential solutions to a no-deal Brexit outcome that were studied by our employees during their training, which was delivered by the Lancashire Chamber of Commerce.

Potential solutions in the event of a No-Deal Brexit

  • Developing more intelligent logistics by grouping loads together, helping to make transport and related documentation more cost-efficient
  • Delivering new, more effective training to employees in various aspects of trade, such as the documentation involved with importing/exporting and alterations to current tariff codes
  • Increasing levels of stock, which will help to avoid initial problems relating to transportation of goods that may arise as the primary response to a no-deal Brexit
  • The potential use of warehousing based in the EU
  • A move towards gaining AEO (Authorised Economic Operator) status within the UK; this should lead to faster port-clearance times and reduced costs

Another aspect of the course focused on the difficult issue of whether a 'hard border' should be put in place in Ireland. The situation was compared to that of Switzerland which, though outside of the customs union, without a hard border and with trade deals in place with China, sells over five times as much per person to the EU than the UK does.

If you're concerned as to how Brexit will affect your business with us, we urge you to get in touch with a member of our expert team.