The UK’s impending departure from the European Union will bring change for businesses of every size and sector.

While some companies are already planning for the challenges and opportunities ahead, Chambers of Commerce believe that all firms – not just those directly and immediately affected – should be undertaking a Brexit ‘health check’, and a broader test of existing business plans.

Time spent thinking through the changes that Brexit may bring to your firm could yield real dividends in future. While the final settlement between the UK and the European Union is still to be negotiated, there are steps that businesses of all sizes can take now to start planning ahead.

The British Chambers of Commerce has developed a Brexit Hub which has plenty of useful information including;

Business Brexit Checklist – This checklist has been created to help businesses consider the changes that Brexit may bring to your firm, and to help business planning at both operational and Board levels.

Brexit Risk Register –  the ultimate test of any Brexit deal is whether it delivers clear answers to the practical, real-world questions businesses face. Firms of every size and sector need clarity in order to take decisions, invest and prepare for the future. As HM Government negotiates a future partnership between the UK and the EU, the British Chambers of Commerce is assessing progress on 24 business-critical issues…

Key Unanswered Questions for a ‘no deal’ scenario – Businesses do not want a messy and disorderly exit, but with a ‘no-deal’ scenario still possible, firms need clear and precise answers to the many questions this would pose for their business…

Withdrawal Agreement FAQs – Following the publication of the Withdrawal Agreement, the BCC has put together a FAQ on the agreement and the likely next steps in the process…

GOV.UK

The Department for Exiting the European Union (DExEU) has also issued important guidance on ‘How to prepare if the UK leaves the EU with no deal‘.  

A no deal scenario is one where the UK leaves the EU and becomes a third country at 11pm GMT on 29 March 2019 without a Withdrawal Agreement and framework for a future relationship in place between the UK and the EU.  In a no deal scenario there would therefore be no agreement to apply any of the elements of the Withdrawal Agreement.  The UK is therefore preparing for a scenario where there is no UK-EU agreement in place on exit day.