Five Ways That Brexit May Affect Business in Britain 

Five Ways That Brexit May Affect Business in Britain 

Although Britain voted to leave the European Union in the summer of 2016, some things are still unclear almost five years later. The timeline after th

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Although Britain voted to leave the European Union in the summer of 2016, some things are still unclear almost five years later. The timeline after the referendum was extremely uncertain and a lot of the population still have a limited idea of what Brexit will mean for business in Britain.

Delays in Delivery Times

Five months down the line since the end of the Brexit transition period, and the delivery times are still struggling. This kind of friction is normal in the beginning and should level off by the end of the year. If you are importing any goods that enter the UK via the ports, make sure to account for the potential lateness of their arrival. Similarly, if you are exporting goods, let your customers know about any issues you may have.

New E-Tendering Procedures

In a nutshell, e-tendering procedures are a way of sourcing suppliers online. Previously, the UK used to use the OJEU platform as part of the EU procurement rules. Now that the UK isn’t subjected to EU regulations, business owners in Great Britain can use a new platform known as Find a Tender or FTS. If you’re not sure whether this applies to you, find out more about the ojeu thresholds, read Thornton & Lowe’s guide.

There’s A Lot of Paperwork

One of the largest hindrances brought about by Brexit will be the copious amounts of paperwork you will need to fill in. This includes customs declaration forms anytime you import or export goods to and from the European Union. Depending on the nature of your business, you may also need new licenses or certificates.

Truck Drivers Will Need Permits

International truck drivers who enter Europe through Kent will need to obtain a Kent Access Permit. This is a digitally issued document that informs officials that the truckers have completed all the necessary documentation for entering the EU. Any truck drivers, UK, or non-UK will require this permit to cross the channel and enter Europe through Kent.

Changes to the Workforce

Previously, when you wanted to recruit a candidate for your business, you could practically extend the invitation to thousands of EU nationals. However, with Brexit, you are now limited to individuals who are already living in the UK with settled status or are British nationals. Make sure any foreign members of staff apply for their UK settled status, or pre-settled status if they don’t qualify for the former.

Try to conduct as much of your own research as you possibly can. Make sure to look at industry-specific regulations. Things are still a bit tumultuous now, but hopefully, with time, the dust will settle, and business will be back to normal.

If you are really struggling to get your head around the new changes, don’t be afraid to reach out to a professional for some help. Similarly, there will be tons of online support that you can reach out to for any questions you may have.