Paul Crichton
Recent US tariff changes have shaken global markets. While the UK’s tariffs are still relatively modest (10% in most cases, rising to 25% for British cars), ripple effects on global supply chains, pricing, and business confidence are already being felt.
Even if you don’t trade internationally, your business might still feel the impact. Here are four key ways to help you stay steady – and possibly even spot growth opportunities.
Protect Your Sales from Shifting Confidence
When uncertainty is high, people often delay spending, especially on non-essentials. Even if you’re UK-based, your customers may be feeling cautious.
What you can do:
- Focus on customer retention. Offer flexible packages, smaller projects, or time-limited promotions.
- Stay visible and communicative. Regular contact builds trust.
- Reassess your sales mix. Are you relying too heavily on one customer or sector?
Tip: Review your past 6 months of sales. Any signs of slowdown? A quick check-in with your top 5–10 customers could help you spot issues early or uncover new opportunities.
Keep an Eye on Rising Costs
Even if your suppliers are UK-based, they might be importing materials at higher costs. Price rises can creep in gradually and quietly.
What you can do:
- Set up a simple cost tracker to monitor key purchases monthly.
- Review your profit margins and consider whether pricing updates are needed.
Tip: If you haven’t reviewed your supplier costs recently, now’s the time. We can help you compare options or track changes in your margins.
Be Ready for UK Tariff Changes and Opportunities
The UK government may respond with its own tariffs, which could affect costs further. However, it could also open doors if UK-made goods become more competitive.
What you can do:
- Explore new local suppliers that might become more cost-effective.
- Watch your competitors. Are they stepping back from markets you could move into?
- Highlight UK sourcing. If you manufacture or buy locally, this could become a strong selling point.
Tip: In times of hesitation, fast movers often win. Stay informed and be ready to act.
Focus on What You Can Control
There’s a lot of global noise right now. While you can’t control the bigger picture, you can control how you respond.
What you can do:
- Review cash flow and key costs regularly. A quick monthly check-in makes a difference.
- Keep in close contact with your customers and suppliers to avoid surprises.
- Know where your risks are. Is it pricing? Stock? Demand?
Tip: Revisit the basics. Understand what you spend, what you earn, and how long you could operate if things slow down. It’s easier to stay confident when you’re clear on your numbers.
Tariff changes may feel far away, but their effects can reach your business faster than expected. Staying informed, proactive, and calm will help you weather the storm.
Need help spotting risks or spotting opportunities? Get in touch. We’d be happy to talk it through with you.