A survey of UK food and drink companies found that just 3% were ready for Brexit - Business Insider

Franco Fubini, founder and CEO of Natoora, a fruit and vegetable distribution company, poses for a photograph in the company's warehouse in south London on December 5, 2018.A third of UK food and drink companies said they definitely won't be ready for the end of the Brexit transition period, in a survey shared exclusively with Business Insider.Just 3.5% of companies said they were fully prepared for a new trading relationship with the European Union January 1.

The food and drink sector is set to be heavily affected by Britain's exit from European trading rules, with companies bracing themselves for checks on goods andIn the absence of a free trade agreement, costly tariffs will be slapped on food and drink products, making it more expensive for British businesses to sell to the EU and creating the likelihood of price rices in UK supermarkets.

10.5% of companies said they would prepare for changes "when there is certainty about a deal with the EU," which might not come until several weeks before the end of the year, if at all. UK and EU negotiators are not expected to strike an agreement before the EU Council Summit on Thursday and talks are set to continue into the autumn.

Another survey carried out by the UK government over the summer found that less than a quarter of businesses overall felt "fully ready" for the end of the transition period, while 40% believed the transition period would be extended despite the legal deadline for doing so having already passed.

On Tuesday, several reacted angrily to Cabinet Office minister Lord Agnew, who told the Treasury Committee that businesses had to "wake up" and accused them of a "head-in-the-sand approach" to Brexit preparation. Dominic Goudie, the Food & Drink Federation's Head of International Trade, said "industry needs no reminder that time is desperately short."

fringedux

Well get their fingers out their arse and sort themselves out for goodness sake 🤨🤨🤨👍

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Singapore Airlines fine-dining restaurant inside aircraft sells out - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. why?
Source: BusinessInsider - 🏆 729. / 51 Read more »

It's the best, and worst, of times for business in Florida, survey findsFlorida is one of the five best states in the nation in which to do business, according to a new survey. It’s also one of the five worst, according to the same survey, thanks to COVID-19. New York too. Bad. Florida can get stuffed.
Source: Reuters - 🏆 2. / 97 Read more »

Small Business Point-of-Sale Battle Report from Insider Intelligence - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Stock picks to buy, 35 companies with huge sales and margin growth: GS - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Anyone wanna share screenshot since I don’t have sub What they’re actually saying is ‘take your dumb money and replace our smart money!’
Source: BusinessInsider - 🏆 729. / 51 Read more »

How 'Try Guy' Zach Kornfeld launched a tea company, sold out in a day - Business InsiderA founding member of 'The Try Guys' with 7.3 million YouTube followers launched a tea company that sold out in less than a day. Here's how he started and managed a successful business during the pandemic Guess it never hurts to try EndSWAT EndPoliceBrutalityinNigeria
Source: BusinessInsider - 🏆 729. / 51 Read more »