Steel products manufacturer Richard Hilton is urging businesses to act now to be ready for the UK’s new trading rules with the EU, when the current Transition period ends on 31 December.
Richard, managing director of Telford-based Fabweld Steel Products (FSP) says: “My advice to other worried businesses is to check gov.uk/transition and complete the checklist to find out what they need to do to prepare for the end of the Transition period.”
His company, a manufacturer of drainage and access covers, started preparing for EU Exit two years ago, with a plan to expand into new overseas markets as part of its bid to increase exports by around 10 per cent.
Richard adds: “We have supplied products outside the EU before, but this has been a targeted programme to future proof FSP and safeguard our international trade. We still anticipate doing business with EU countries, where we have a good reputation and established contacts and suppliers.
His advice comes as the Department for Business, Energy & Industrial Strategy (BEIS) prepares to deliver new webinars to help businesses understand the important actions they need to take to be ready for the start of 2021.
The webinars are free, and depending on the topic being covered, take between 45-90 minutes. Upcoming topics include chemicals, use of personal data and business travel. Webinars are available for ‘on-demand’ viewing, including a dedicated webinar for the metals and materials sector.
Steps FSP has taken to be ready include:
- Working closely with the Department for International Trade to identify geographical areas to focus on and liaise with the British Embassy in the relevant countries.
- Visiting new markets outside the EU to gain understanding of the market and develop relationships with potential customers
- Attending Department for International Trade (DIT) seminars, those on exploring new markets and preparing for EU Exit were especially useful
- Making sure FSP has an EU EORI number as well as an EORI number so it can continue to export to the EU, a simple but crucial step.
- Developing a proactive strategy to make sure that overseas trade remains a significant portion of FSP’s business and can grow, regardless of the UK’s future position within Europe.
Find webinars to help you understand what actions to take at bit.ly/UKTwebinar
Speak with your lawyer and accountant for more information, or answer questions using the checker tool to generate information tailored to your business, and to sign up for email updates.