Trade and customs are in the news – and there’s a good chance they’re going to stay there. How is your business managing them? And are they even being discussed in the boardroom? With a little insight and support where needed, you can get a handle on your trade and customs management and look to the future with confidence.
Customs rarely made the news and certainly didn’t grab the headlines. But that’s changed in recent times thanks to Brexit, Trump’s willingness to put up trade barriers and ever-increasing digitalization of trade processes. These issues have also demonstrated the complexity of the modern world and, in the case of the Northern Irish border question, that the details do indeed matter.
So, for companies whose business is built on cross-border trade it’s never been as important to have the right knowledge and be prepared. The good news? It’s not just about preparing for the worst – better trade and customs management can also have a healthy impact on your bottom line.
Get the most out of your trade
For most companies there’s a lot of hidden and often missed value in their cross-border trade. Certainly when it comes to cutting costs, boosting profits and gaining an advantage over the competition. For example:
- Billions of Euros in unnecessary tariffs are paid by European companies every year
- A third of Free Trade Agreements aren’t used
- Authorised Economic Operator (AEO) permits can cut shipping times by days and weeks
- Cash flow can be transformed through using customs warehouses where tariffs are only paid on the goods that are bought
A word of warning
At this point, it’s also important to remind you of the risks that companies take when they aren’t aware of their customs compliance or lack of it. There are some horror stories of crippling financial penalties, businesses going under and even criminal charges for board members. Coupled with the uncertainty in the outside world, it’s never been more crucial to know where you are as a business with your trade and customs management – and where you need to be.
Where does KGH come in?
Customs is about competence and knowledge. Rightly or wrongly, it’s a world of its own where experience makes all the difference. So if you’re looking for insight and a helping hand with boosting your own knowledge – and the knowledge within your organization – where better to turn than KGH?
KGH is a world-leading trade and customs management expert. We can share our experience that compliant traders are more profitable, lowering your overall customs costs significantly by making use of AEO and Trusted Trader programmes to reveal new business opportunities.
But most importantly we’re there to support you in managing the complexity of today and the uncertainty of a shifting, post-Brexit, digitalized future.