variety of rules are coming into effect and there are measures that need to be taken by UK companies who trade with the EU, before the transition period finishes on 31 December 2020.
It signals a fresh chapter of new opportunities, but British businesses must be prepared. Here two UK brands tell us how they’re planning ahead…
Caroline Bennett, owner, Sole of Discretion
“At the moment, it’s an interesting challenge,” says entrepreneur Bernie de Le Cuona, pictured, in reference to the end of the UK transition period. “We have to be on our toes and whilst daunting, it’s quite exciting.”
She founded her luxury textiles business, de Le Cuona, over 25 years ago, and today, all her wares are made in Europe. Bearing that in mind, de Le Cuona has taken early action to ensure she is prepared for any changes following the end of the UK Transition period, particularly around duties and transferring goods to and from her Windsor-based warehouse.
“When I realised it was going to happen, I took action,” she explains. “I got the support of some of our suppliers who pointed me in the right direction.”
De Le Cuona also sought expert guidance. “I think talking to the Chamber of Commerce and then taking on a consultant were the best [resources] that we found,” she says. This way, she found new methods of operating for the future. For instance, customs warehousing can be used to delay duty and VAT, and it means you need not pay either to re-export your goods.
As a result, de Le Cuona is feeling buoyant about the future. “In January, we’ve got a very big launch, and then we [are] continuing throughout 2021. All these things are already planned and orders [have been] placed. So we’re not holding back at all, and we feel quite strongly that things will move forward, regardless.”
To find out more about how to prepare your business for leaving the EU, visit gov.uk/transition
This article is part of a paid-for Partnership with the UK Government