The nightmare of a no-deal Brexit may become a reality, and businesses have already began to prepare. Warehouses have begun to stock up, fearing of what a no-deal Brexit may do to prices, and one of the products stocked up in is wine. “If the UK ends up with a no deal Brexit then wine businesses will have to cope with additional tariffs as well as another duty rise,” the WSTA blog post read, “which is highly likely to end up full square in the consumer’s lap, bumping up wine prices to an all-time high.” This rise in price will devastate wine companies, but along with wine, the price of food will also rise, which will have a negative effect on not only businesses, but also consumers, and will be very bad for the business, as their costs will rise greatly. The cost rise will damage and might even take out some businesses, who will make low sales due to these high prices, and possibly be taken out due to the high costs and low sales. This chance of a no-deal Brexit has frightened many businesses, as they will be unable to import goods from a cheaper source from when they were in the EU.
The prospect of a no-deal Brexit may also result in the loss of many jobs, as the ridiculous rise in prices may run some businesses to the ground, causing some hard-working people to lose their jobs. If the UK leaves the EU without any deal, the businesses of the UK will be the ones who suffer for it, with the rise in costs, as they are no longer able to import cheap materials, and not being able to compensate for it in sales - due to the prices being to high. A no-deal Brexit will cause many businesses to suffer unnecessarily, and will hopefully be avoided.
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