How will ‘Brexit get done’ in 2020 and how can you use the time to get ready for it?
The general election result and Brexit: What next?
The general election result has provided a landslide victory for the Conservative party. Boris Johnson will now be putting everything into ‘getting Brexit’ done. But, what does that mean for your business?
Don’t be beaten by Brexit fatigue
The outcome of next week’s general election is difficult to call. One thing that is certain is that the uncertainty surrounding Brexit won’t immediately lift.
Why the election result will not likely clean up the Brexit mess
If Boris Johnson wins the election, the UK will officially leave the EU by the end of January.
Yet leaving the EU will simply be “the end of the beginning,” in Churchill’s famous phrase. The really hard part of Brexit will be about to begin. And there will be just eleven months left before the end of the Transition Agreement on 31 December 2020.
Get your Brexit questions answered
Brexit is up in the air. But it hasn’t gone away. Pretty soon, if Boris Johnson wins the election, the UK will have left the EU, and suddenly things will start moving very quickly indeed.
Is your business ready to ride out a downturn?
The good news is that the latest UK GDP figures from the Office for National Statistics show that the UK economy is not in recession.
Our Brexit Checklists are your Brexit lifeline whatever form Brexit takes
Brexit is up in the air, but forget it and you put your business in peril. Never has the phrase “fail to prepare and you prepare to fail” been so fitting.
Better safe than sorry – don’t shelve your Brexit plans
We have a Brexit extension. We also have an extension of our Brexit uncertainty. We still do not know how Brexit will look.
There are at least three potential outcomes, dictated by the result of the General Election:
- Boris Johnson’s Withdrawal Agreement could be ratified, we begin withdrawing from the EU on January 31st 2020 and start negotiating new trade deals and parallel regulations. The intention will be to get this done before the withdrawal period ends, but this is unlikely to be possible. So we will either have to ask for a longer transition period, or leave with No Deal.
- Johnson has a mountain to climb to win the election, given that he is almost certain to lose seats in Remain areas in London, the South of England and Scotland. We may therefore end up with another hung parliament as the clock ticks down to 31 January. Would parliament vote to ask for another extension if it fails to approve the Withdrawal Agreement? Would the EU27 agree to an extension if they did. If not, then the UK would leave with No Deal at the end of January.
- A People’s Vote referendum could be triggered if there is a hung parliament, depending on the seats won. There would then be some bitter fights to decide the 2 options on the ballot paper. One of them might well be to leave with No Deal, and it might win.
Whichever one of these scenarios plays out, it is better to be safe than sorry. Continue preparing your business for a possible no deal Brexit, continue reaching out to markets outside of the EU, keep ticking off items on your Brexit Checklist and audit your suppliers to see how prepared they are for every possible eventuality. Whatever happens, all this work won’t be in vain, your business will be stronger, more resilient and more adaptable as a result.
It’s a no brainer.
Anna
Anna Tobin
Editor
Ready For Brexit
Sign up now to download your No Deal Brexit Action PlanSign up to Ready for Brexit membership now and download your planning guide for a No Deal Brexit on 31 October 2019
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NO DEAL BREXIT
ACTION PLAN
The No Deal Brexit Action Plan maps out the time available and the time required to undertake the processes to prepare your business for a No Deal Brexit.
Your business will need to modify or completely change procedures to prepare for Brexit. Brexlists help you take a rigorous and structured approach to your preparations:
- The Executive Summary Brexlist Brexit checklist, as its name implies, highlights the key issues
- The Business Functions Brexlist Brexit checklist maps onto the key business functions in a company
- The Directory Brexlist Brexit checklist maps onto the topic headings in our Brexit Directory
highlight what needs to be done, and by when, to ensure that all parts of your supply chain are prepared for Brexit:
- Identify the key questions for your business
- Share key learnings with your business partners
- Identify the key challenges and opportunities
- Highlight key internal and external priorities
BREXIT
DIRECTORY
The Brexit Directory is an extensive database of information and links organised by business function to help you find the information your business needs to know.
How Brexit could play out now we’re into the second round of extra time
Yet again, Brexit has been delayed and No Deal is off the table, for now. The UK and the EU have agreed upon a Withdrawal Agreement, but parliament has only provisionally agreed to this Brexit deal. Provisional is the keyword here.