International Relations Minister Eluned Morgan visited a successful Welsh exporter to hear concerns about the risks associated with a no deal Brexit and set out the steps businesses can take to prepare.
The continued and heightened threat of a no deal Brexit is causing uncertainty and concern amongst the Welsh business community – especially those businesses who export to the EU.
Companies who export to the EU will need to comply with a significant amount of additional red tape and process in order to sell to existing and new customers in the EU once we leave. This will likely have an impact on resources, costs and delivery times.
Biocatalysts Ltd, who manufactures enzymes and trade around the world, has undertaken a great deal of preparation but is still working to mitigate the many challenges that could arise including tariffs and delays at ports.
Eluned Morgan said:
We know one of the biggest concerns facing business following a no deal Brexit is that disruption to supply chains and general trading will create constraints to working capital and cash flow.
We know that the issues will differ from company to company. We are making sure businesses have access to the high-quality intelligence, technical information and the advice necessary to develop new export opportunities.
I was delighted to meet Daren Bryce, Commercial Director, and team today and was pleased to hear they’re taking such a proactive approach to protecting both their supply chain and their exports to the EU.
We are continuing to support businesses through our expanded network of overseas operations. Our export team has a range of support and advice to help with specific issues including a grant towards the cost of accredited export training for your staff.