Brexit in Wonderland
Do you get the feeling that with Brexit discussions, you have entered an Alice in Wonderland word ruled by the Queen of Hearts where everything is topsy-turvey?
Last week we have the BBC reporting about one of our great engineers, Sir James Dyson, talking on Newsnight about the impact of moving out of the Single Market and on to World Trade Organsiation rules. He states that it is not going to hurt his company, which isn’t that reassuring for many other, smaller businesses.
At the same time, we hear Euler Hermes report that machinery and commodities could, after chemical, be hit hardest of all non-service sectors (as reported by The Manufacturer) by a move to World Trade Organisation rules. If you weren’t confused then, you probably are now.
Of course, vacuum cleaners and hand driers are not the same as machinery and commodities, and will have different customers – so it is possible that both could be right. This points very clearly to a danger in discussing Brexit, and that is of reading multiple points of view, and making assumptions.
Each case will need careful consideration. Every business is different. Each industry has its own strengths and weaknesses. Dyson is a great product with enviable customer loyalty which will persist through tariffs. As Sir James points out, for companies prepared to look beyond the EU, the opportunities now are in the rest of the world.
But that does not mean that the Brexit negotiations are going to be an easy ride, as companies should be looking to protect themselves from the ever-changing rules and regulations that surround trade, import and export, and immigration employment. Ensure that you talk to someone in our expert team.