Dear Brexiters, Small-Medium Enterprises SMEs are companies with fewer than 250 employees, of which there are 5.4 million SMEs in the UK; and only 9000 large enterprises in the UK. With a population of around 60 million, SMEs accounts for a staggering majority of our work force.
In a meeting with trade experts in Geneva Hunter & Hughes have found that these SMEs should be raising their voices and concerns regarding the post Brexit economy. Some SMEs have already closed and relocated elsewhere due to the uncertainty surround trade tariffs post Brexit; nor does our currently weakened Sterling (higher import costs). O
BMW, Jaguar/Land Rover, Nissan, Airbus are few examples of large companies that have decided to relocate their operation elsewhere outside the UK. These companies have the resources to prepare themselves for Brexit, but SMEs are just not able to do the same.
Nearly all of our economy operates on a Just In Time principle, what will happen to SMEs when tariffs on raw materials increases? We simply do not have the raw materials, in most sectors (UK is a net importer in food, fuel, raw materials etc) to allow our SMEs to function. Furthermore, what will happen if we’re able to obtain these necessary goods & services when it’s delayed at customs?
Astonishingly, most SMEs are unaware of this looming uncertainty, thus aren’t preparing for it. And most possibly are unaware of the governments advice on how to prepare for a Brexit. The government have released on their website many preparedness notices on Brexit, and covers all industries (https://www.gov.uk/government/collections/how-to-prepare-if-the-uk-leaves-the-eu-with-no-deal), have a read on your sector and ask your employer have they read them, what and how are they preparing for a Brexit?
Regardless of how we leave, it will be the majority of us who don’t have a phone number like bank balances that will bear the brunt of Brexit. Let’s be proactive, talk to your employers, or get them to ask the local trading standards offices what and how are they preparing for a Brexit? Be persistent, and don’t be easily satisfied with sound bites and nebulous slogans that does nothing but appease to our emotions