Brexit is fast approaching and it’s time to prepare for the unforeseeable. The separation is scheduled for March 29, 2019, and the nation is bracing itself as growing fears rise of a “No Deal” Brexit. If no deal is reached, Britain would withdraw from the European Union (E.U.) without any of the trade, customs and regulatory measures the government is currently negotiating to smooth Britain’s transition. As a result, many businesses and companies are rushing to stockpile ahead of Brexit.
Here are four main reasons why businesses are working tremendously hard to build up stock and why you should too. Plus, we’ll even tell you how Cube can help ease your business during this period of ambiguity.
Border issues - Movement of Goods
In the event of a “No Deal” Brexit, imports and exports to and from Britain would need to go through strict custom clearance and undergo more extensive inspections to ensure cargo meets strict standards. No longer enjoying the privilege of using the express lanes for the E.U. countries but be diverted into a different lane reserved for third countries. Goods flowing in each direction will have to be tracked and importers may need to have measures in place to comply with additional administration and to pay additional tariffs. That means more hassle and costs will be incurred, what a nightmare! Be prepared for this inconvenient scenario by stocking up your products with Cube’s Business Storage and get your products in before March 29, 2019.
With stricter border regulations, it will take a longer time and process to move the goods in and out of Britain causing delays in meeting the demands of the consumers. Staff and employment working requirements may also change causing United Kingdom citizens working abroad and E.U. citizens working in the United Kingdom to face additional requirements to obtain work permits. This will result in companies being understaffed affecting mass supply productions. Overcome this by stockpiling with Cube and ensure sufficient stock is available to cover any supply disruptions during this vague transition period.
Increased prices & Currency effects
With supply disruptions and lack of availability of certain supplies, cost of materials and goods will fluctuate significantly. This can cause manufacturers to incur higher production costs sourcing for goods and supplies, seriously affecting the profit margins of the business. Cube can help you to avoid just that! By storing your materials and supplies needed for your business. Cube can help to cut down losses on profit margins as you will have ready stock of materials and supplies without having to pay the fluctuated price should the price of goods go up significantly.
Period of regulatory and legal uncertainty
New UK regulations are likely to replace E.U. law and bring into effect future trade arrangements. With no one sure what the future regulations could be, it is best to be prepared for any scenario. As stated in Article 126, the period of transition is likely to last at least until 31 December 2020! Help ease your company’s transition during this period of time by storing some business supplies with Cube Self Storage. Our friendly team of storage experts are here to help evaluate and recommend the best business storage for all your company’s storage needs.
With so many businesses scrambling to stockpile ahead of Brexit, storage space in Britain is fast running out. Be rest assured, here at Cube Self Storage we still have sufficient space to accommodate your business. Speak to our friendly storage experts today!