Deal or no deal?
With Brexit little more than six months away, EHN asks a number of hirers and suppliers: “What key issues should be addressed to ensure your business continues smoothly after the UK leaves the EU on 29 March 2019?”
Chris Morris, CEO/MD of Morris Site Machinery
“ The importance of balancing business risk
has never been more relevant than during the gathering confusion of Brexit negotiations. Confusion has led to uncertainty, and uncertainty inevitably leads to restraint and indecision, so at Morris Site Machinery we are planning for a slowdown in the UK’s economic activity during 2019 and 2020 and for Sterling to lose value. To reduce potential risks, among other
things, we have actively been reviewing supply lines, hedging relevant currencies and focusing on expanding our overseas sales markets where growth achieved in non-EU territories will assist in off-setting negative impact caused by the final act of Brexit. Of our top 10 clients by turnover, today, half are now outside of the EU. Ironically, in the interim since the
Referendum result, our sales into mainland
Europe have trebled. However, if this sales growth is negatively affected by a hard Brexit, as a major UK-based lighting tower manufacturer, with additional tariffs imposed on EU products entering the UK, we’re optimistic that any lost EU sales will be counterbalanced by an enhanced ‘in territory’ competitive position. For many UK-based manufacturers, spreading risk overseas is the focus today. Let’s see what tomorrow brings.
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Douglas Anderson, Joint MD, GAP If the EU lets the UK leave painlessly there would be a stampede of
other members following us out the door and the only net contributor left would be Germany. Game over! The original EEC had laudable and meaningful aims, most of which have been achieved. However, the EU is an unelected bureaucratic blancmange completely out of control. We, as a
company, do not export. If we did, we would be much better off outside the EU. We do, however, import indirectly so if the UK exits without a
deal, the country will be subject to a WTO (World Trade Organization) tariff of 4%. But then, so will everyone else in the UK, therefore a neutral situation. If anyone doubts the ludicrous costs we have had to bear over the last 30 to 40 years, please visit YouTube and watch ‘Brexit the movie’. If you don’t want to leave the EU after watching that, Oh dear!
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Neil Johnson, MD of Beaver Tool Hire (Chichester) I would like to see more certainty on where we are
heading sooner rather than later, as time is ticking on. I appreciate the whole process is very complex with lots of implications that I’m sure did not even cross most voters’ minds when making their decision to Remain or Leave. The economy appears to have all but stalled and most
suppliers - although interestingly not all - increased prices on the back of the fall in sterling. So for me and the good of the wider economy it has to be an agreement which does not impact free trade either through red tape or tariffs.
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Gary McWilliam, MD of The Hire Supply Company (UK) My main concern is the negative way in which political parties and the
media absolutely love to emphasise the doom and gloom of a Hard Brexit or No Deal Brexit and the UK crashing out of the EU. No one really knows what the fallout will be for UK industry, and no one will until it does or does not happen. I assume that government projects will continue after Brexit, that private projects will continue after Brexit, and that the Great British public will just get on with it. I doubt that the lights will go out and that businesses will cease to trade overnight. The effect that this has on
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business confidence and the strength of the pound for anyone importing products is what concerns me. Mark Carney (the Bank of England Governor), who has never said a positive thing as far as I can remember, warned of the chances of a No-Deal Brexit and the pound weakened. Liam Fox (Secretary of State for International Trade) recently said that there was now a 60-40% chance of the UK crashing out of the EU due to the ‘intransigence of the EU’. Everyone seems to be blaming everyone else.
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