With less than a year to go until Britain leaves the European Union there are still many things that business leaders, particularly those with international interests, need to know.
The IoD’s Media Relations Manager Donjeta Miftari sits down with colleague Allie Renison, Head of Europe and Trade Policy, along with WorldFirst’s Chief Economist Jeremy Cook, to take a holistic view of the process.
Starting with Brexit transition, Allie stresses the importance of businesses not sticking to the “wait and see” philosophy before making adaptations. This could take another 18-months to confirm, she warns, but leaders should be checking aspects of their business that could be affected immediately like supply chains and employee registration systems.
Trade terms may change and prices may rise, adds Jeremy, but it’s certainly not a gamble to be enacting contingency plans right away and understanding how exchange rates can impact your businesses profit margins when exporting.
Watch the full interview above for the complete low-down on all things Brexit, courtesy of Allie, Jeremy and Donjeta.
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