(Shutterstock)The blocking of the third Meaningful Vote on the Prime Minister’s Withdrawal Deal doesn’t mean that a no-deal Brexit can’t happen.
Although it could still be avoided, a no-deal Brexit on March 29th remains the default position. Is your business ready for it?
It’s better to be safe than sorry. Book an appointment with your bank manager to discuss ways to increase your cash flow to tide you over a potential no-deal Brexit period where you may need to buy more stock, deal with the repercussions of delays, pay additional overtime bills and cover new costs to meet third-country regulations and tariffs.
Assess what tariffs could be added on to your goods and whether your haulage costs are likely to rise. Talk to your suppliers and clients to discuss how possible holdups could impact and how you can work together to minimise their impact. Our Brexlist Brexit checklist and our Brexsure Brexit audit tool are invaluable resources designed to minimise the impact of Brexit on your business, and it’s still not too late to use them.
Even if no-deal does get taken off the table next week, I guarantee that taking these measures won’t be a wasted experience. You will still learn about potential risks to your business and will hopefully even be surprised by some hidden opportunities that could benefit your business, deal or no deal.
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
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.