23 May 2017: Last year the referendum increased uncertainty in the business world. Many companies responded by deferring long-term plans and commercial decisions until some of that uncertainty had resolved itself. But at some point, companies have to take a view and make some choices.
Dealing with the fluctuating pound is important and some businesses in the construction and agricultural, utilities and mining industries have been highly impacted. Steps need to be taken to spread the risk and this may mean that businesses decide that they pass on the costs of a weaker pound to the consumer. The food and drink federation have warned consumers that effects on housing budgets will continue to rise.
Costs for importers are likely to continue rising whilst the export markets will become much more fruitful.
If your business has been negatively affected by the fluctuating pound and you wish to seek professional advice, our team at BRI Business Recovery and Insolvency are always on hand to help.