This is a dangerous time for businesses in the UK. We are entering the school holiday period, and the focus on Brexit is being diminished by a lack of resources and the distraction of sporting successes.
In the sport of politics, the circus of the UK Conservative leadership election is also distracting attention from the urgency of necessary Brexit preparations. Both candidates are clear that under their premiership, the UK will leave the EU with or without a deal on 31 October 2019. There is no reason to doubt their word on this. And, as there will be no time to create a new deal, and there is no appetite at the EU to negotiate a deal, by far the most likely outcome is a ‘hard’ or No-Deal Brexit on 31 October 2019, about 15 weeks away from now.
After Brexit, the legal basis on which we trade with the EU and the rest of the world will change completely. We have become used to business being seamless. Few of us remember the days before the EU and the legal and documentary processes that were required to move goods and supply services. Whilst short transition periods have been agreed for some sectors, there is no guarantee that these will happen if the UK opts for a No-Deal Brexit and withholds payment of the £39 billion agreed earlier. For most sectors the UK will drop immediately to ‘third-country’ status. This means that the EU will deal with us exactly as they deal with every other remote country in the world.
The legal section of the Ready for Brexit Directory guides you through the relevant areas that need to be considered, including contracts, consumer rights, data protection and intellectual property. Companies also need to consider their legal set up and, potentially, the benefit of setting up a legal entity within an EU state.
Staffing issues also concern many businesses, as our recent interview with The Chalet Company highlights. The services and employment section of the Brexit Directory contains the latest information you need to know about these areas.
If you haven’t already done so, sign up now and download the Ready for Brexit checklist. Use our Brexsure audit tool to check how ready your supply chain is for Brexit and finally make use of our No-Deal Brexit action planner. These tools are designed to ensure that your business is as ready as it can be to successfully navigate Brexit.