With just months left to go until the UK formally exits the European Union in March 2019, businesses should be mapping out their exposure points and considering the implications of various possible outcomes of the negotiations on a withdrawal agreement and subsequent future deal.
The projected hope and expectation from both the UK and EU is that the withdrawal agreement will be followed by a status quo transition period during which time the details of a future economic partnership are drawn up. But it is important nonetheless that directors are aware of what trading with the EU as a “third country” generally entails, and the actions they should be taking now to prepare for the unlikely event that there is neither a withdrawal agreement nor a deal on a future relationship.
Allie Renison, the IoD’s Head of Europe and Trade Policy, has authored Business Planning for Brexit, a guide covering a range of areas that are likely to impact you and your company. The guide is available exclusively to IoD members, please log in below to access the document.
There are, of course, many unknowns in regards to Brexit, but this guide sets out steps you can take to maximise your business’s preparedness at a time of lingering uncertainty.
As well as exploring the three key business topics of goods, services, and people, the document provides a list of upcoming Brexit milestones to look out for, and a checklist of questions your business should investigate. It also includes links to further IoD and governmental resources, and a glossary of key Brexit terms.
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