A no-deal Brexit could cause cash-flow problems for U.K. suppliers, a new survey suggests
Trucks crossing the English Channel could face delays in the event of a no-deal Brexit, economists say. Photo: Gareth Fuller/Associated Press 0 Comments By Nina Trentmann March 11, 2019 12:01 a.m. ET
If that happens, about 20% of EU companies with suppliers in the U.K. would ask for discounts on their orders, according to a CIPS survey released Monday. Eleven percent of U.K. exporters expect their contracts to be canceled by European clients in the event of delays. And one-quarter of European companies would postpone paying their U.K. suppliers until after the goods arrive, potentially causing a cash-flow problem for many British companies, CIPS said.
Should delays at the border extend to two or three weeks, 60% of EU businesses would seek to switch suppliers and end contracts with U.K. companies ahead of time, CIPS said. But only 44% of U.K. businesses said they would be able to switch to alternative suppliers outside the EU if there was a two- or three-week-long delay in importing goods into the U.K.
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