The countdown is on

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I am being increasingly asked by clients what they should be doing in relation to their existing commercial and contractual arrangements in the face of Brexit.

By Ian Liddle, partner at Farleys.

Now is the time to be making sure your business is prepared. Don’t wait for the outcome of the Brexit negotiations.

For businesses already trading or which have significant relationships with the EU, the risk factors may be all too evident.

Even if your company does not do business with EU countries, there is a high chance you have suppliers or partners who do, so any effects on them will cascade down to your business eventually.

Many businesses will be considering their current import and export markets in light of changes to the free movement of goods. Ensure that you review any business-critical contracts and terms and conditions, particularly those that specifically reference the EU and operations within it. Are they comprehensive enough? From a staffing perspective – will your operations be affected by the potential ending of free movement? If necessary, ensure you have contingency plans.

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