No tariffs and no quotas - that’s what everyone said when the UK and EU announced the new Trade and Cooperation Agreement in December 2020 – and it is true, up to a point. UK originating goods are tariff free when entering the EU. EU originating goods are tariff fee when entering the UK. But determining the origin of goods is not always straightforward, and no proof is required until 1st January 2022. What unpleasant surprises are waiting to emerge in the New Year?
Tags: Digital_Transformation Digital Value Chain Innovation Brexit Centigo_UK Sustainable Growth Digitization Corona Sourcing Supply_chains COVID-19 Working_Capital Sustainability Transformation
On 1st January 2021 the EU introduced a series of controls on imports of animal products from Great Britain. It is no exaggeration to say that this created chaos, and seven months on, UK food exporters are still struggling to recover. The UK, meanwhile, delayed the introduction of similar controls for most animal products arriving from the EU, but this will soon change. On 1st October 2021 all products of animal origin entering Great Britain from the EU will require certification and registration. On 1st January 2022 a further requirement for inspection of arrivals will be introduced. Both of these requirements are likely to dent, or even reverse, the anaemic recovery in food imports from the EU to the UK. What should or can be done to prepare for these critical changes?
Tags: Digital_Transformation Digital Value Chain Innovation Brexit Centigo_UK Sustainable Growth Digitization Corona Sourcing Supply_chains COVID-19 Working_Capital Sustainability Transformation
On 25th June companies which have opted to defer their UK import declarations will need to start dealing with the consequences. 25th June marks the first of a series of dates when the UK will tighten its border controls. Will there be chaos or barely a ripple? What happens at the end of June could give us a window to the future.
Tags: Digital_Transformation Digital Value Chain Innovation Brexit Centigo_UK Sustainable Growth Digitization Corona Sourcing Supply_chains COVID-19 Working_Capital Sustainability Transformation
The most recent figures from the UK Office for National Statistics[1] made grim reading. Imports from the EU to the UK, having fallen by almost 30% in January, showed only an anaemic recovery of 7% in February. At first glance, it appears that exports from the UK to the EU had fared better, with a good proportion of January’s loss returning in February. Looking under the surface, however, shows that most of this recovery was due to two sectors – machinery and transport equipment (incl. cars) and chemicals (incl. vaccine ingredients). This indicates that the impact of Brexit on trade volumes is likely to be persistent.
Tags: Digital_Transformation Digital Value Chain Innovation Brexit Centigo_UK Sustainable Growth Digitization Corona Sourcing Supply_chains COVID-19 Working_Capital Sustainability Transformation
At the forefront of COVID-19 responses our internationally recognised experts in business transformation have provided an array of thought leadership articles to help you identify, prioritise and launch your own individual solution to the recent crisis. Each of the articles deal with a particular aspect of the business transformation you will need to undertake as a matter of some urgency in order to rapidly emerge from COVID-19, begin trading and position yourself to win in the “new normal”.
Tags: Digital_Transformation Innovation Agile Supply_chains COVID-19 Working_Capital Sustainability M&A leadership WFH Strategy
Without a shadow of doubt COVID-19 has been the most devastating circumstance to hit the global business environment since The Great Depression which began in the USA on 4th September 1929 with a sudden dramatic fall in stock prices and subsequently led to the Wall Street stock-market crash of 29th October 1929 (Black Tuesday). Depending on who’s commentary you believe, the austerity caused by The Great Depression lasted up to the beginning of World War II, some ten years later, and drove down world GDP by an estimated 15%. By contrast, COVID-19 has been with us now for only six months and is widely being forecast1 to drive down the GDP of some major industrialised nations2 by almost the same percentage in 2020 alone. The ongoing effects will be felt for some years to come with uncertainty in the financial markets making access to capital increasingly difficult for businesses attempting to emerge from under the cloud of COVID-19 and return to full trading status.
Tags: Centigo_UK Business_Transformation COVID-19 Working_Capital