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Uncertainty Over Brexit Leaves the B2B World in Suspense

Uncertainty Over Brexit Leaves the B2B World in Suspense

When talk turns to Brexit, much of the discussion revolves around what will happen once the United Kingdom of Great Britain and Northern Ireland leaves the European Union. While the United Kingdom Parliament hashes out a withdrawal agreement, with Prime Minister Theresa May at the helm, the economy is already shifting in anticipation of… what? The trouble is, no one is quite sure. Even experts can only make educated guesses since their research hinges on the type of withdrawal the United Kingdom and European Union ultimately consent to.

Where Brexit currently stands – A high-level view

The European Union recently approved a second extension of the Brexit deadline to allow May additional time to forge a deal in Parliament and finalize the United Kingdom’s withdrawal from the Union. While the new October 31, 2019 deadline offers some breathing room, it leaves the United Kingdom and European Union in an uncertain economic limbo for most of this year.

The spiderweb of potential events that lay ahead for the United Kingdom stem from two of the most likely outcomes:

-May passes her withdrawal agreement in Parliament by October 31st. If she succeeds, the United Kingdom can hammer out future trade deals with the European Union, to be expanded upon after the separation is finalized.

-May does not pass her withdrawal agreement by October 31st. This would mean the United Kingdom leaves with no trade deals in place, and very little room to negotiate ideal terms in the future. A “no-deal” situation has the potential to create lingering consequences, particularly at the border between Northern Ireland – which is part of the United Kingdom – and the Republic of Ireland, with the European Union.

While those in favor of Brexit are eager for a more economically independent United Kingdom, others hope that the withdrawal agreement will come with lenient tariffs, not just at the Irish border, but for trade across the United Kingdom and European Union. Unfortunately, only time (and an approved withdrawal agreement) will tell how the trade relationship between the United Kingdom and Europe continues.

What Brexit means for businesses in the United Kingdom

Politics aside, the United Kingdom has already seen changes to their market and businesses since the original Brexit vote in late 2016. The pound sterling (GBP), which dropped drastically after the majority of United Kingdom citizens voted to leave the European Union, remains weakened in comparison to the United States Dollar (USD). The approach of each Brexit deadline has triggered a slight drop in the market, followed by a recovery a few days after the granted extensions.

The GBP and Euro (EUR) have become tied to shifts in the political sphere, rather than the market. Companies are making financial decisions in anticipation of a plummeting currency values caused by Brexit.  Many banks have already moved their home offices  from London to various European cities. Healthcare facilities are stockpiling life-saving medicines in the event of a shortage. United Kingdom-based businesses are reducing their investments and employment opportunities. 

How will Brexit affect U.S. business with the United Kingdom?

With a diminished value for pound sterling, currency exchanges between USD, GBP, and EUR won’t be very attractive for a while, especially when considering the added per-payment fees charged by banks to transmit funds across international borders. Global businesses depend on stable markets to keep exchange rates as uniform as possible; someone will always be paying the difference, whether it’s the buyer purchasing more currency, or the supplier receiving a reduced amount.

Companies whose accounts payable teams have adopted payment automation into their processes can use their rebates to mitigate irregular exchange rates. Payment solutions that lower the cost of electronic payments through exchange rate transparency ultimately improve the buyer’s relationships with their suppliers.

Only one thing left to do

The United Kingdom and European Union are in a transitory stage – and that is an enormous understatement. The Brexit experience is genuinely frustrating because it has no precedent, so no one’s sure what will ultimately happen. Economic growth may stagnate for a while, but as with any market, where there are ebbs, there will be flows. The only thing left to do is what the United Kingdom already does best: “Keep calm and carry on.”

Alyssa Callahan is a Technical Marketing Writer at Nvoicepay.  She has four years of experience in the B2B payment industry, specializing in cross-border B2B payment processes.

Supply Chain & Logistics Summit and Expo 2019

It’s the 21st edition of one of Europe’s most bustling, highly-attended, logistics-centered conferences. Influential directors and C-suite executives provide valuable insights to attendees through a series of talks and workshops on topics including retail, pharma, manufacturing and brands.

With a focus on maximizing efficiencies and reducing costs with one-of-a-kind strategies, this year’s event will feature more than 80 industry speakers with more than 450 attendees gathering to network at one of the premier events in Europe. Known for bringing C-suite executives and high-level directors, the 2019 event is projecting 80 percent SVP and VP’s.

The Supply Chain & Logistics Summit and Expo will take place in Belgium at the Hilton Antwerp Hotel from September 24-26 and will represent more than 33 countries.

Send in your interest in registration for one of the most established events in Europe today. To review more information on this premier event, visit: sclsummit.com

Bremen Confirmed for Breakbulk Europe 2020

Bremen, Germany will once again host the largest event for the project cargo and breakbulk industry during the 2020 Breakbulk Europe event, according to information shared by ITE Group prior the upcoming 2019 Breakbulk Europe event that will take place May 21-23 in Messe Bremen.

“Breakbulk Europe returning to Bremen also in 2020 is great news for our location. Bremen ‘breathes’ trade and logistics, is one of the main breakbulk ports in Europe and therefore the logical choice as host of Breakbulk Europe,” Günthner said. “We are glad that we were able to convince ITE to come to Bremen for the third year in a row and to give us the chance to be a great host again for this wonderful show with more than 10.000 exhibitors and visitors.”

“We are delighted to be returning to the historic city of Bremen for the third year in a row,” said Nick Davison, Portfolio Director for Breakbulk Events, ITE Group .“Bremen has really stepped up its commitment to provide the services to support this event. In fact, the city will provide free public transportation on its trams and trains to make traveling between the venue, hotels, restaurants and popular tourist sites around town convenient to all participants.”

This year’s event will include more than 550 companies exhibiting and currently boasts an increase in visitor registration by 40 percent. Additions to the 2019 event include Hall 7 showcasing a Masters Arena and the Breakbulk Masters lounge and an increase in food venues and bars.

“Bremen can do ports and Bremen can do trade fairs. And that is why Bremen is the ideal partner city for ITE to host this outstanding event again in 2020,” Robert Howe, Managing Director of bremenports, said. “I am both pleased and proud that we will have the opportunity to be good hosts to the international port business once again. On behalf of everyone at bremenports, ‘Welcome to Breakbulk City!’”

To read more about Breakbulk Europe 2019, visit: europe.breakbulk.com.

Cold Chain Shipping Solutions Planned for IQPC Reveal

Softbox, a temperature control packaging provider, confirmed three new cold chain shipping solutions scheduled to be revealed at this year’s Temperature Controlled Logistics IQPC in London.

“We’re very excited to launch the Tempcell MAX and Silverpod MAX in Europe and unveil the Tempcell ECO for the first time. Bringing to market these new temperature control packaging systems signals a further advancement for Softbox. Our goal is to keep innovating and providing the latest technology and materials to our customers to ensure the cold chain is perfectly maintained during transportation.”

The three new pallet and parcel shipping systems all provide unique, one-of-a-kind features:

Tempcell ECO is 100% kerbside recyclable, made from recycled corrugated paper materials and is able to control different temperature ranges including 00C to 300C products.

Tempcell MAX is a single-use high performance PCM parcel shipper that maintains up to 96 hours of thermal protection while  incorporating a  SilverSkinTM radiant barrier enhancing thermal performance.

Silverpod MAX, is a high performance PCM pallet shipper that  incorporates PCM coolants that enable safe storage before and during shipping and has a SilverSkinTM reflective radiant barrier that enhances its thermal performance.

Two additional temperature control packaging systems are also scheduled for pre-launch at the event.

Source: Softbox

Foreign Trade Data Solutions Company Adds Germany Location

Trade Technologies, a global leader in foreign trade documentation software solutions, announced the opening of the second European branch office in Stuttgart, Germany. Trade Technologies currently has offices in Atlanta, Austin, Boston, Chicago, Hong Kong, Houston,
Istanbul, London, Los Angeles, Mumbai, New York, San Francisco, Singapore.

The company prides itself in its patented, cloud-based software solutions that securely streamlines sharing trade data and documentation for over 1,500 exporters, freight forwarders and international banks.

Additionally, the company’s outsourced trade documentation services grant increased visibility of other transactions involving foreign trade through real-time access and management.

“Europe is home to high-performing and fast-growing exporters, and Germany is a growth engine in Europe and we expect strong demand not only for our outsourced letter of credit services, but also for our entire TradeSharp platform,” said Kirk Lundberg, CEO of Trade Technologies.

The company’s impressive list of awards and recognitions includes:

-One of the “50 Smartest Companies of 2016” in the Silicon Review business magazine

-Presidential E Award for Export Services from the US Department of Commerce in 2015

-CIO Review Magazine voted TTI one of the 20 most promising banking solutions in its annual list

-Trade Finance Magazine’s Best Trade Tech Solutions Company winner in 2012

-TradeSharp Software Platform and Process  Award

-Winner of the US Department of Commerce’s Presidential E Award for Exports in 2011- known as the highest possible US export recognition.

 

Source: EIN Presswire

 

 

Leadership Shifts to Support Global Logistics Expansion Efforts

Increasing growth in Europe and India is the primary driver behind recent leadership changes for the global innovation and provider of temperature control packaging for life science and logistics company, Softbox.

Kevin Valentine will now hold the title of General Manager for Softbox Europe and brings with him over  25 years of industry experience, specifically pertaining to the leadership experience in the science and production of advanced temperature controlled packaging solutions and thermal covers for pharmaceuticals. Valentine will focus primarily on quality of innovation and client services in his new role.

Additionally, Dharmesh Chauhan, who will report directly to Valentine, will take on the role of Sales Director for Softbox Europe. and will provide support to the newly-combined Softbox and TP3 Global sales teams to further efforts of temperature control packaging and thermal cover portfolios for global pharmaceutical customers.

A third player in the industry, Dinesh Patki, will lead efforts towards growth with the full integration of TP3 Global/CLI and Softbox in India through his role as General Manager of Softbox India. Patki provides strong relationships with the Indian market that will assist in the expansion of company growth in the region.

 “Kevin, Dharmesh and Dinesh are very experienced industry leaders and I’m delighted to welcome them in their new roles within the Softbox leadership team,” Wayne Langlois, President at Softbox, said.  “By leveraging the best possible talent from within our organisation, it enables us to integrate and grow Softbox to further growth success.”

Source: Softbox Systems