Brexit is coming, in a matter of months. And the question on everyone’s lips is how will Brexit affect us?
Here at SMP, we now face the challenge of dealing with Brexit, be that a No Deal, Chequers Deal, or something else! Either way it now seems inevitable that the UK will on 29th March 2019 leave the EU, and whilst there are a number of Technical Notices issued by the government to date, none cover print, and all that we know for certain is that under WTO rules there will be a 6.5% tariff on printing inks and polypropylene and similar materials, 5.3% on litho plates, and a 1.7% tariff on printing equipment and parts.
The potential for disruption to supply of raw materials or a spike in their cost, arising from the eventual outcome of the Brexit negotiations, is being evaluated and work is ongoing to seek to mitigate the impact through close working with our most trusted suppliers.
From time to time external events require SMP to instigate our Business Continuity protocols in order to evaluate a risk, determine a proportionate response, and communicate this to staff, clients and suppliers as appropriate. In the past few years this approach has dealt with the London 2012 Olympics, Pandemic Flu, and Adverse Weather. On a more local scale the business has coped with temporary interruptions to gas and water supplies, and a small fire. All of these potentially damaging situations have been competently dealt with, and been virtually invisible to our clients.
Once we have a more detailed understanding of the potential risks, and some indication of the preparedness of our supply chain partners we will be able to issue a more detailed update.