While Brexit negotiations proceed into phase 2, industry is
already thinking ahead to ensure that, whatever the outcome,
business is as ready as possible for any change. But what can be
done now, in the absence of any firm agreement on what any
transitional period or future trading relationship between the UK
and its EU partners could look like?
There are a number of immediate and longer term steps to ensure
that you are prepared and have maximum flexibility to respond to
what could be very considerable change.
Short term
Operational certainty is key. As there are still a wide range of
possible Brexit outcomes, businesses are already looking at
different scenarios. In particular, a full withdrawal from the EU
single market and/or customs union could create significant
financial and people based impacts and opportunities. While it
appears likely that there will be some form of transitional period,
this is likely at this stage to be time limited and so the
