The Institute of Export’s post Brexit planning workshops – designed to stimulate thought and planning around how momentum can be harnessed in current markets and looking beyond the safety of the EU – are receiving positive feedback.
While our relationship with the EU won’t change overnight, there is no time to waste as effects are already being felt from the fallout from the vote; including benefits and extra costs brought about by short-term currency fluctuations. It is vital that businesses are aware of all this so they can resolve problems quickly and capitalise on opportunities.
Trade statistics show that the European Union is the destination for about half of all British goods exports. The trading links are bigger if we include the countries that the United Kingdom trades freely with because of the free trade agreement with the European Union.
The task to reach a new trade agreement with the European Union following the “Brexit” vote will be complex but vitally important. In the recent IOE post-Brexit referendum survey nearly half of respondents rated continued access to the EU single market for goods and services as 10 on a scale where ten is most important.
Our next workshops held on October 25 in London and November 24 in Manchester will help those who trade internationally look at the possible impact on their existing exports and imports – both immediately and in the longer term – and help them plan the next steps to take to spread their risks.
They are an opportunity for owners and managers to think through what they want, where they want to go – and how to get there.
The IOE is also receiving an increasing number of requests for the sessions to be delivered in-house, at company’s own premises.
Facilitated by the IOE’s Director of Special Projects, Mike Josypenko, the agenda for each session follows four key areas:
Managing existing business
This covers communicating with existing EU clients/ suppliers/partners and the importance of reassurance, commitment and information. It also helps planning for the future by considering the impact of customs clearance, tariffs and free trade deals on EU and non-EU business.
Looking beyond the EU
Addressing new markets for business, this examines internet research and visiting new markets; market entry planning; marketing in different cultures; and using interpreters or translators. In addition, Trading Blocs, Free Trade Agreements, Customs Unions, and Free Trade Zones are examined.
Managing future risks
This explains mitigating foreign exchange risk – both short-term (during uncertainty) and long-term – and what credit risk insurance covers and how to use it.
Is your supply chain secure?
Here, the impact of Brexit on suppliers is examined, by looking at agreements with suppliers; customs procedures, tariffs, duty preferences; and the implications for transport and distribution.
For more details or to book a place on the workshops priced at £260 for members and £360 for non-members, visit www.export.org.uk/shop/brexit-workshop, or call 44 (0) 1733 404 400. Please also call us on this number if you would like the IOE to deliver an in-house workshop for your business.
