BREXIT – Does it affect your business or not?

It is difficult to ignore Brexit at present with the continual media coverage of this ongoing subject. For many it seems like there will never be an end to the ongoing struggle of Brexit and that it is continually back and forth in an effort to find the best deal for everyone.

Its slowly becoming apparent that there is no easy way of finding the best solution for everyone, although come the 29th March 2019 then deal or no deal this will be the deadline for the Brexit negotiations and we could find ourselves moving away with limited ties to the EU. Whether you are pro or against Brexit, this date is critical in ensuring that your company is prepared for every eventuality so that it is able to continue to operate effectively. This means that you must prepare for the best and worst case scenarios and also all the factors that would be related to Brexit and the EU.

A recent study by PwC surveyed 350 UK based businesses to test their level of preparedness in case of a deal or no deal Brexit. The survey showed that 1 in 10 businesses have not made any Brexit preparations, 69% have not made any plans for a no deal scenario, and about 31% are preparing for a no deal scenario.

Many businesses are possibly only planning for one outcome although this is not the best strategy as we currently do not know which way Brexit will unfold, and so with this in mind then it is wise to plan for both outcomes, these being deal and no deal situations.

Business Guard are able to assist organisations by exploring how both outcomes may be relevant to their business, and by doing so be able to assist in better preparing your organisation for Brexit.