With Brexit crossing the finish line (at last!), the UK has now officially left the EU. As a result, now is the time to rethink your supply chain.
On 1 February, the UK entered an 11-month transition period in which it will continue to follow EU rules, but without representation in the bloc’s institutions. Therefore, your business may have certainty for the next 11 months, but after that no one can confidently predict what happens next.
Reviewing your supply chain will help to determine whether you are sourcing from, or supplying materials/products to, the EU. If this is the case, you may need to change how and where you source your supplies in the future.
This may be for a number of reasons including availability, cost, potential tariffs, security and risk. There may also be the issue of potential delays, as ports may have to examine shipments, as well as the necessary documentation that will be involved post-Brexit. All these potential changes could have a significant impact on your existing supply chain.
Remove the uncertainty with Trade Finance
Trade finance from White Oak IE can help your business prepare for likely changes in respect of overseas trade, helping remove some of the headache.
We can ensure that your suppliers are paid securely, ensuring you don’t put your own capital at risk, goods are delivered in a timely manner, and the process is managed from pick up to delivery.
Our trade finance product can fund purchase orders as well as VAT, duty and logistics helping you to free up your working capital. Contact us today and see how we can support your business growth and remove the risks of trading overseas.
To find out more, please call us on +44(0)1245 904066. We look forward to working with you.