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Are you prepared for Brexit?

Now that Brexit is getting real, it is vital for you to stay informed about what happens next and how it affects your business.

Below you are able to download our FBCMB regional tube maps, where you can find your sector line and see the issues that will affect you on each stop. You will travel through zones covering international standards, EU rules, opportunities, people and trade. On each step of this journey you will need advice and our team are on hand to provide it.

   

 

Your big question is how you will do business in the short term in the event of no deal, in the medium term during any transitional period between Brexit and the entry into force of a new UK-EU trade agreement, and in the long term under the new trade agreement?

It is already clear, however, that you or those you supply are not going to enjoy the same access to the EU's Single Market under a trade agreement as you do while the UK is a member of the EU.

The main threat you face is uncertainty about the outcome. Nonetheless, you need to assess the impact of a worst-case-scenario Brexit now, in other words without any withdrawal agreement in place, and have in place contingency plans which are flexible enough to respond to developments in the negotiations.

Download our briefings if you are in:

Agriculture

Manufacturing

Automative and Aviation

Leisure and Hospitality

Our team can help you with all that you need in four steps:

  1. Information - You need to have procedures in place to ensure you are well-informed about the Brexit process. Relying on press reports won’t be enough. Understanding and forecasting the likely impacts are fundamental to your Brexit strategy to gaining early competitive advantage. FBC Manby Bowdler will give you with a tailored service which monitors progress, analyses published documents, and identifies the impacts for your business the moment they become clear.
  2. Preparation - Prepare for Brexit with and without a deal. To do so, businesses should carry out a Brexit legal impact assessment followed by a Brexit commercial impact assessment. These will form the baseline of any contingency measures. To be Brexitproof, FBC Manby Bowdler’s online survey can help you legally and commercially. Sign up here.
  3. Action - Based on this survey, you should decide what contingency plans you need and when they should be activated. You might be marginally or massively impacted. Contingency measures could include setting up alternative supply chains, identifying new customer markets, or re-skilling employees. FBC Manby Bowdler has been at the forefront of advising clients on the commercial implications of Brexit. We have the experience to help you devise and implement contingency measures for your business, and stress-test them against a range of Brexit scenarios, whatever industry you operate in.
  4. Influencing - The best way to avoid a Brexit that damages your business is to influence the outcome yourself. Brexit provides an opportunity to do that, which businesses should exploit more. FBC Manby Bowdler has the benefit of advisers in Brussels and London. We can devise and implement policy advocacy strategies to influence the course of further Brexit negotiations, the negotiations on a new trade agreement and build long-term regulatory compliance strategies, including relationship-building with key influencers and government authorities.

Our team of experienced sector specialists has examined the potential impact of the Brexit in your sector. Peter Wilding, our Brexit Director, is able to provide in-depth analysis on the political, policy and legal implications of Brexit, and translate what they mean for manufacturing, agricultural and hospitality clients. He has an expert understanding of how each piece of the jigsaw of EU policy and legislation fits together, an insider’s knowledge of the political and administrative processes of the negotiations, and considerable experience of how UK legislation is enacted. Few other lawyers have a background so suited to giving Brexit advice.

 

General Data Protection Regulation - Are You Ready?

If businesses have not established proper policies and procedures for the way they hold and use information, from employee's addresses to customer email databases, they could face hundreds of thousands of pounds in fines.

GDPR is now in full swing and we have developed a package to support businesses to help them navigate the data minefield.

GDPR and data protection experts at the firm are offering:

  • An initial review of a business’s existing data collection and use (i.e. where their information comes from and what personal information they will hold);

  • A data mapping template to enable businesses to identify the information they hold and where it is stored, so as to monitor their personal data use and ensure continuing compliance. 

  • A review of existing standard Terms and Conditions, or where necessary the preparation of new Terms and Conditions to ensure GDPR compliance; and

  • Access to a GDPR legal expert for specific queries in relation to the new regulations.

David Preece, Corporate Partner at FBC Manby Bowdler, is part of the firm's expert team helping a clients prepare for GDPR.

"One of the key considerations of the regulation is that it’s new penalties will come into force and they are potentially devastating compared to what we have now.

"There are two tiers: the first is up to €10m or two per cent of a company’s global turnover of the previous year, whichever is the higher; the second is up to €20m or four per cent of the previous year’s turnover, again, whichever is higher. This is a significant difference to the fines the Information Commissioner’s Office can currently levy.

 "Taking a high profile example, Talk Talk’s 2016 fine of £400,000 for allowing hackers to access customer data would have rocketed to £59m under GDPR. Figures like that should be enough to make anyone pay attention.

 "But it's not just big companies which will be affected by these new rules, SMEs are not immune to GDPR and they won't be immune to the potential fines either.

 "We know there are thousands of companies out there which are completely unprepared for GDPR. This package of support has been designed to help companies identify the data they hold, and give expert support in reviewing and developing the right policies and processes around that information, so that they can comply with the new regulations"

For more information, visit our GDPR page. Alternatively, you can contact David on 01952 208421 or d.preece@fbcmb.co.uk




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