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. 

BREXIT: What your business can do now

19/01/2019

- FBC Manby Bowdler’s Peter Wilding, Corporate Solicitor and Brexit Adviser

We still don’t know what form Brexit will take when the UK leaves the EU at the end of March. But there are still some steps businesses can take now to prepare, says FBC Manby Bowdler Brexit Director Peter Wilding.

If anybody tells you they know what shape Brexit will take when and if it finally happens, ignore them. Nobody does. And even though the deadline is now just 71 days away, it’s still far from clear when exactly we will know.

This lack of clarity has been particularly damaging for business – but it does not mean that there are not things your business should be doing now to prepare for life after Brexit.

Start with making sure your own house is in order. Take a business-wide audit to examine just what areas of your operation will be affected by Brexit.

If you have EU workers on your payroll, do they know what steps to take to ensure they are registered to remain in the UK? Have you considered ways in which you can help to retain skills and labour you have already invested time and money in?

If you export products to Europe – or import raw materials from the EU – have you started to think about what you might need to do to continue to do so after March 29? If you export to non EU countries, are you ready to use the same procedures for sending goods to Europe if necessary?

Nobody knows yet what might happen at border controls and what extra delays may occur as a result of Brexit. So now is a good time to stress-test the resilience of your logistics operation and see if you need to consider any new arrangements.

It’s also worth getting legal advice on existing contracts to see if they need to be reviewed, considering which currency it makes most sense to be paid in and reviewing the tax and VAT implications of what lies ahead.

And remember, you are not alone in going through this process. Here at FBC Manby Bowdler we have a stellar team of experts who can help you take control of your business whatever the politicians decide.

If you would like to contact Peter to discuss any of the above please contact him on 07901 008220 and peter.wilding@fbcmb.co.uk.

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