With another 6 months at the most before the Brexit deadline (31/10/19) and no concrete withdrawal agreement in place, the impact of a potential no-deal sees major concerns for the motor trade industry.
Recent research from the Society of Motor Manufacturers recently found that over 70% of UK automotive organisations believe a no-deal Brexit could be damaging to their business. With the state of the current Brexit negotiations these statistics come as no shock. Though still unclear on the future, there are preparations that some Motor Trade companies have taken in order to protect their business should the worst-case scenario take place.
- Increasing Export Activities:
With the build up to Brexit 26% of in the Motor Trade have expanded their overseas footprint in order to maintain established trade routes and relationships in a post Brexit world.
- Changing Logistics and Shipping Routes
23% of Motor Trade businesses which rely on importing or exporting goods have already taken it upon themselves to change the way in which they go about their to ensure some level of stability after the 29th March.
- Developing Current Workforce
Increasing your staff’s skillset is always a good idea but with the uncertainty of Brexit and what it will truly mean for the available talent, it’s now more crucial than ever to make sure training is on your radar. Statistics show that 22% of businesses in the industry have been training up their teams and focussing on their existing talent to fill a potential hole from the EU.
With the countdown to Brexit relentlessly ticking away towards a final deadline there is no escaping the biggest political change in recent history. Though some businesses have set some things in motion the future is still unclear and even if we leave the EU with a deal, the impact of that on the Motor Trade is still as mystifying as a no deal. The best thing you can do for your business is prepare the best that you can. Tasker Motor can help you to do this by ensuring you’ve got bespoke insurance solutions in place for your business instead of an off the shelf package product that may not offer the protection your business needs in the Brexit environment.
Insurance may seem as much of a headache as Brexit but it’s actually one of the few industries which is clear in the path of the dreaded B word. Insurance has always provided businesses with the protection they’ve needed to thrive, and with such chaos going on around us now is the time to add some certainty to your business.
If you would like to talk through how insurance can help protect your business please get in touch and I will be happy to help.
T: 0161 440 6778