Economic growth in the UK is falling sharply and the number of bankruptcies is skyrocketing. Parliament's rejection of the Brexit deal does not do this any favours. This means even longer uncertainty and therefore an increase in the number of problems in the UK. Prime Minister May may stay on (for now) but the chances of her reaching a deal that is accepted by both the UK parliament and the EU are thought to be nil.
As Xolv, we advise our relations and companies in general to be extremely careful when accepting orders and new customers in the UK. Credit insurers are already taking action and reducing their bond exposure to risky businesses. We recommend doing business only with credit insurer cover. This will prevent unnecessary debtor losses. We also recommend avoiding long credit terms.
Want to know more about how you can still do business in the UK during this Brexit phase, without risk? Contact us at info@xolv.nl or 073 - 820 02 95. We are happy to assist you.
