Is the Wine Trade on Course for a Happy Brexit?
Posted on Mon 13th Mar 2017 at 11:10
With the triggering of Article 50 now imminent, companies from all industries are bracing themselves for the as yet unknown effects of our leaving the European Union. While there is much cause for pessimism, particularly with tariff-free trade at risk, a new study has found that the wine industry is in surprisingly good shape to face the challenges ahead.
While there is much cause for pessimism, particularly with tariff-free trade at risk, a new study has found that the wine industry is in surprisingly good shape to face the challenges ahead. The study, carried out by industry analysts Plimsoll Publishing, found that many of the country’s wine wholesalers and wine distributors are not only performing well but are also well prepared for any uncertainty in the sector. Plimsoll compiled the data by identifying what they believe to be the vital success-driving areas of every company’s performance, and then applying these to the UK’s 1,223 wine businesses. Their findings were certainly interesting, as well as uplifting. Plimsoll gave each company one of five possible health ratings, and there was great news for almost 600 of the companies included in the study. 483 of these received ‘strong’ ratings, while a further 114 were designated ‘good’. These companies were seen as the most prepared to ride out any potential Brexit storms – although given that there is no way to accurately predict what will happen they may not want to start celebrating just yet. There was less encouraging news for a few businesses, however. 219 were given a ‘danger’ warning, indicating that they had serious problems with their financial health. They are not in immediate danger of closing, but are advised to take a good look at their business processes in order to better meet what lies ahead. Overall the positive results from the study demonstrate the excellent strength and resilience of our industry, and they’re a testament to the hard-working, talented people in the trade across the UK. Bring on Brexit – Wine Wholesaler and Wine Distributor Signature Wines is ready!