Business Action | February / March 2019

BREXIT
Can Brexit transform businesses
Many UK industries and
services have been adopting
agile, learning about scrum,
continuous improvement,
lean manufacturing, leadership
and a host of other
disciplines for years.
We tell ourselves we are
agents of change, we can
adapt, that is what we are
good at, yet faced with the
scenario of Brexit it can be
easy to crave certainty and
lose entrepreneurial spirit.
It is also true that some
companies are seizing the
opportunity that Brexit
presents. Do they have more
information than the majority
that are waiting for clarity
on the situation? I think not.
Actually, they are working on
the certainties they recognise
and taking the lead – exactly
what we have been preparing
for over the past few decades.
So, what are these certainties?
Certainty No 1: Heritage,
Experience and Expertise
We in the UK have a great
heritage of trade by meeting
adversity across the globe,
taking the challenge by the
horns and creating dynamic
and rewarding trading
relationships. That heritage
still exists.
Wherever you travel across
the globe, our reputation is
strong and goes before us. We
are renowned for quality, for
creativity, being fair, for doing
what we say we will do.
Our successful companies
define these attributes. Think
of Mulberry, Dyson and Fox’s
to name a few. Our sectors
too are renowned throughout
the world: we are leaders in
aviation, music, financial
services, education and more.
into exporters?
A new Netflix TV series offers a choice of 10 possible endings, but,
depending on who you listen to, Brexit could offer many more: from
plunging the UK into an economic abyss to raising it to the heights
of a western version of Singapore. With uncertainty seeming the
only certainty whatever deal is agreed, thrown out, implemented
or thwarted, Linda Middleton-Jones of International Trade Matters
draws on her 25 years’ experience in international commerce
and representing South West business interests globally to give a
practical view of how North Devon businesses can survive and thrive
Certainty No 2: Friendships
Whatever the nature of the
Brexit arrangement, it is absolutely
clear that right now we
should be reinforcing existing
relationships with our buyers
or suppliers across the globe.
In our brave new world, we
should not underestimate the
value of face-to-face relationships
over and above those we
make on a digital framework.
We know that a mixture
of traditional and digital
marketing methods used to
underpin a growth strategy
is important when based
upon a clear understanding of
customer values and desires.
When we communicate with
customers, we gain an understanding
of their world, vital
to sustaining existing trading
relationships and creating
new ones.
Improving and adapting
to meet customer needs is
fundamental to any successful
product or service and
especially important within
supply chains.
Certainty No 3:
Exporting Skills
Many companies have
become adept at selling or
buying into Europe. Indeed,
it is just the same as selling
to Aberdeen, Plymouth or
Brighton. Easy and uncomplicated,
easing the way to new
buyers across the member
countries.
At the same time a great
many companies also sell
across the globe. They have
gained a great deal of skills in
exporting over the years.
It is certain that we will
have to convert/revert to
exporting to the EU. HMRC
has already given us an
indication of what that will
mean. Current global export /
import level is approximately
90 million transactions per
year. If current trade with
EU remains at the same level,
that figure will jump to 300
million transactions per year.
That is a significant shift in
skills requirement; skills in
exporting that will have to be
learnt ready for Brexit.
Choosing to train your
employees now in the intricacies
of Certificates of Origin,
Incoterms and Tariffs will
mean that your company is
prepared. Admittedly, we
have no visibility of the level
of tariffs but that will soon
become clear. The important
thing is to understand the
fundamentals of exporting;
that is a skill that can be
developed now.
Given our heritage,
experience and expertise; our
recognition that relationships
are important; and that we
need to learn how to export,
is there anything else that we
need to consider?
Certainty No 4:
Innovation Sells
Innovation is key to the future
– either inside or outside
Europe. There is recognition
in the value of innovative
entrepreneurs who are
currently changing the way
and the speed of business.
Global big business is a
like a big oil tanker: it takes
longer to change course, it has
little agility and is slow and
steady. The British Chambers
of Commerce (BCC) have
already recognised the breed
of disruptor as one of the
main USPs of our country.
This ‘breed’ will be the driver
for success and in effect is
synonymous with innovation.
Innovation within the
UK has always been our
competitive advantage, our
USP, in effect. We have great
examples of our creativity
in manufacturing, across
services and through technology.
Given that funding
streams and global alliances
are likely to change, innovation
is more important than
ever. We need to remain
the benchmark country,
building on our reputation for
quality and tradition in the
ever-changing political and
economic scenario.
At International Trade
Matters, we think that
successful companies are agile
in their thinking, leading
innovation within to meet the
challenges that need solving.
Brexit is one such case where
we need to prepare for what
we know will happen and
subsequently harness our
resources to meet uncertainty.
We have the capability
and capacity to guide your
learning either through
accredited courses or by oneto-one
support and guidance.
■■Details 01398 351560 or
internationaltradematters.com
12 business action | February / March 2019 | business-action.co.uk