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."

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

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