UK: Brexit Red Tape is Jackpot for Customs Pros

Source: Bloomberg

The next big money-making opportunity of Brexit has emerged: selling customs services.

With Britain’s split from the European Union heralding the introduction of border controls between the U.K. and its largest trading partner for the first time in three decades, companies are rushing to acquire the means to file the new customs paperwork that will be required from January. 

The surge in demand is a boon for firms such as AEB SE, a closely-held Stuttgart-based provider of software that helps users to file trade declarations. In recent weeks, the firm has seen a five-fold increase in inquiries for its services, which can cost as much as 2,000 pounds ($2,500) a month.

AEB, whose clients include BAE Systems Plc, Volkswagen AG and Kellogg Co., said it expects to process about 500,000 customs declarations a day from next year based on the business it has already won -- an increase of at least 2,000% on current levels.

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