HOW CAN YOUR BUSINESS SUCCEED ONLINE AFTER BREXIT?
No one knows what exactly is happening – really, no one understands Brexit in its entirety. However, there are ways to keep your business protected against the adverse effects of Brexit.
And, really, we are all bored of trying to figure out what exactly is going on with the votes in Teresa Johnson, Corbyn, Parliament, and the host of them. This is already becoming more like an unfunny comedy show, and this has been on the ground for years now. However, it is no longer news that Brexit is as scary as hell, as no one actually knows what and how massive its impact will be.
Albeit, whether you feel Brexit is a new idea or otherwise, you should be conscious of how your business is thriving online too. Factually, 41% of businesses in the United Kingdom are actually unprepared for Brexit. And unfortunately, these obvious changes will hit them most likely negatively, not only even online now, but offline too. And that is more reason you need to prepare your business to succeed after Brexit.
The thing is, you cannot change what is happening in the news. Or can you? Of course, not. So, instead, let us stop watching this seemingly comedy show and get down to practical ideas and solutions on how to make your business succeed online after Brexit.
Here, I have carefully outlined 5 tips on how you can make your business succeed online after Brexit.
How You Can Make Your Business Succeed Online After Brexit – Top 5 Ways That Work
- Update Your Business’ Policies
This applies mostly when your business pertains to cross-border eCommerce, including both the EU and the UK. So basically, what you need to do is to update your tariff and shopping policies, such that they reflect specific details of Brexit once they are made known to the general public. However, while doing this, ensure that your updated policies are in line with both the EU and the UK regulations too.
- Check on Your Suppliers
To sideline any form of complications (read as hitches) that may arise from the impact of Brexit on customs and tariffs, try as much as possible to identify some additional suppliers. That is to say, look into getting more options in case the rates of tariff inflate and become too high for your business to shoulder. This way, you will be assured of a smoothly-running business online yet without running into any financial incapacitation.
Since your business runs online, there is really no need to relocating your warehouse to places closer to your customers. Instead, what matters at this moment is your suppliers – their proximity, etc.
- Sell more outside the EU & UK
As a workaround, the disruption Brexit may cause, for your online business, you can look into exploring other markets that are outside the jurisdiction of the EU & UK. This way, you will avoid dealing with specific trade barriers such as tariffs, customs regulations, and so on.
- Ensure your Currency Options Are Kept Open
This one is simple; be sure that your website accepts different currencies and not just Euro. This way, you have succeeded in giving yourself an edge over any form of confusion Brexit can induce. Besides, with multiple currency options, more online shoppers who shuffle between the EU and UK will feel more comfortable doing business on your website.
- Finally, keep yourself informed.
