The Prime Minister, Theresa May will trigger Article 50 on Wednesday 29 March 2017. This will start the process to take the UK from out of the European Union.
Whilst many predicted that Brexit would cause a crisis for the UK’s economy, the reality is that, apart from an initial significant slump in the Pound, and its continued reduced value, the overall UK economy grew by 1.8% in 2016.
Norfolk’s most successful businesses recognise the need to stay positive and be able to take advantage of a whatever situation the economy finds itself in. They understand that there are opportunities in times of uncertainty, as well as risks.
Commenting on the position of his company, in relation to Brexit, Gordon Chetwood, Managing Director of Pasta Foods Ltd said: “Pasta Foods has seen an upward path since the UK’s Brexit vote. Most of our pasta competitors are European businesses supplying into the UK, so the devaluation of the pound makes us more competitive to UK customers, in spite of the fact that we have faced rising costs as we buy raw materials from Europe.
“In our snack business, we export snacks across the world to over 40 countries and we have seen very good sales growth in spite of raw material cost inflation and we anticipate that this will continue into the future.”
For the next edition of the Norfolk Voice magazine, we want to hear from more Chamber members about the impact of Brexit on them. What they have been doing, as a result of Brexit, and what plans they have to take advantage of future opportunities.
Has your company taken advantage of the lower Pound and increased your exports; are you looking at new markets; or trying to source new suppliers – perhaps from within the UK? What future opportunities do you see as a result of Brexit?
Also, what does your business need to see from the Brexit negotiations? Just a few of the business comments we have heard so far include: the overall need for clarity; a bureaucratic-free system for EU workers; simplified regulations post Brexit and a reduction in red tape; and to keep tariffs with the EU to a minimum.
Please send your comments to Nova Fairbank. Email: [email protected] by no later than close of play on Friday 31 March 2017.
