Since the United Kingdom referendum in June 2016 resulted in the decision to leave the European Union, we have been working to assess and mitigate the likely impacts of ‘Brexit’ on our customers and suppliers under a variety of potential outcomes. As the end date for the transition period of the United Kingdom’s departure from the European Union is set for 1st January 2021, we appreciate our customers and suppliers may be feeling a great deal of uncertainty. We want to ensure you that we are taking the matter very seriously and are taking the relevant risk assessments to reduce any potential impact on our business, and yours.
As we are a UK based organisation and the majority of our supply chain is also based within the UK, our business structure is limited to the effects caused by the outcome of the negotiations. Nevertheless, we both supply and support customers within the EU. Therefore, we take Brexit and its implications very seriously and ensure all our business continuity plans are reviewed regularly and all risks are assessed and controlled.
In our initial risk assessment, we have identified a number of key focus areas which Brexit may impact, including:
- Customer service;
- Supply chain logistics;
- Tariffs
- Regulatory frameworks and compliance
To mitigate potential impacts upon business operations, we have undertaken an extensive due-diligence exercise that has developed our contingency plans to mitigate any risks associated with the above. We are confident in the skill and expertise of our employees, suppliers, partners and logistics team.
Whilst we recognise that there remains significant uncertainty around the eventual political and legal Brexit outcome, based on our understanding today we do not believe that the key areas will generate unmanageable risks for our business.
We remain vigilant and prepared for a number of Brexit scenarios, but based on the work already conducted, we feel optimistic and ready for the 1st of January 2021 and ensure to you that it will be business as usual.
