Is your business prepared for Brexit?

The UK left the European Union on 31 January 2020. We know that the uncertainty around Brexit has made it difficult to know how to prepare, but our expert team will help you to put practical steps in place to make sure your business is ready during the commencing transitional period.

Our team of Brexit advisors offer in-depth analysis on the political, policy and legal implications of Brexit and how it will affect your business.

We specialise in a wide range of sectors and can help to answer big questions about Brexit and the preparations businesses should make, including:

  • What your business should do in the event of a no-deal Brexit?
  • How will the transitional period between Brexit and the entry into new UK-EU trade agreements affect you?
  • How will any long-term new trade agreements affect you?
  • What contingency plans will you need in place for each potential Brexit Scenario?

Our team of advisors can provide bespoke assessments of your business, including:

  • Assessing how your business could be affected by Brexit
  • Providing personalised practical plans to ensure your business is ready

We've also developed FBCMB sector specific regional tube maps, where you see the potential threats and issues which will affect your business. The 'lines' include 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.

It is already clear, 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 did while the UK was 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 and have in place contingency plans which are flexible enough to respond to developments in the negotiations.

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. 

  3. Action - 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 Brexit in your sector and can provide an in-depth analysis on the political, policy and legal implications of Brexit, and translate what they mean for manufacturing, agricultural and hospitality clients. We have 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. 

General Data Protection Regulation - Are You Ready?

07/03/2018

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 david.preece@fbcmb.co.uk

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