Brexit business planning
The UK has left the EU and with the transition period coming to an end on 1st January 2021, it’s more important than ever, that businesses focus on planning for the impact that Brexit will have on their future.
With 2020 focusing on Covid-19 contingency planning, the deadline marking the end of the transition period for Brexit will soon be here, as many businesses are left wondering what the next steps are.
But there are actions your business can take now.
Review Key Business Risks
With many sectors of businesses being affected by the upcoming changes it is important to look at areas that may specifically affect your business such as tax, labour supply, data protection and procurement.
There could be some great new opportunities for your business. As the final transition period comes to a close, the UK government continues to seek and negotiate a variety of new trade deals with non-EU countries.
With changes regularly occurring we recommend keeping track of VAT, customs and tariff updates.
Currently, if your business completes customs declarations you may be eligible for up to three grants through the UK government. Seek advice to ensure your business receives the available benefits.
Planning for all eventualities, both best case and worst case scenarios, is the best option to ensure you are prepared for the changes to come.
For further assistance around Brexit Business Planning, please don’t hesitate to contact our experts.