UK Businesses may need to set up an EU Presence
05 Oct 2020
A note from Brexit Bear's technical desk:
Thousands of UK businesses may need to set up an EU presence if they want to export goods to European markets. This is reasonable because both EU and UK law require companies to "have a door to knock on" if there are any disputes over payment and compliance with customs changes after January 1. This shouldn't be news, really, but failing that, firms would have to pay a customs and freight forwarding agent to bear the risk that new paperwork and payment obligations are satisfied, with industry sources telling the BBC that few agents will be prepared to take that risk. Brexit wonders if this is utter rubbish and business that don't embrace risk and take advantage of new opportunities really are part of the “old economy” that Brexit and Covid are putting to the sword. The bear also wonders if there is a market for “accommodation addresses” (serviced or otherwise) and sees entrepreneurial opportunities waiting to be taken up by innovative and commercially aggressive UK (and EU) companies.