Is this what we can expect when we leave Europe more jobs going to British businesses after Royal Navy Awards Babcock the contract worth £1.5 billion to build 5 new Type T31 warships which will start at the end of 2019 to 2023 and secure hundreds of jobs in Fife, UK.
Article reference BBC news https://www.bbc.com/news/uk-scotland-scotland-business-49670332
But does it go far enough?
Only time will tell if this is indeed the taste of things to come when we leave on 31st October. Yes it’s looks with no doubt that we will. E leaving on this date with half crazed Prime Minister who is hell bent on making this happen or as he puts it ‘I would rather be lying in a ditch half dead that keep the UK in Europe.’ Strong words for someone who doesn’t have a majority to carry out his party or parliament to take this forward.
The country has been in a spin for three years now and the uncertainty for British businesses looks to be getting no better. The slight good news of the Royal Navy awarding a contract to one of our own is great but doesn’t it go far enough?
#Brexit is leaving us with more questions than answers. We have copied across the 10 things businesses need to do to brace themselves for October 31st
10 things businesses should do before we leave. Article by Kate Westbrook, Partner at Thrings source https://www.insidermedia.com/blogs/southwest/ten-things-to-do-before-brexit
Assess and plan
Review EU components of your business, your EU customers, suppliers and EU citizens in your workforce (if any) and assess the risks and opportunities that Brexit brings. Review any key EU laws which impact on the business and any that you rely on. Develop a plan to respond to the uncertainties you have identified, mitigate your risk and take advantage of the opportunities, and monitor developments.
Are you clear about how Brexit will affect your customers? What does this mean for you and your business? Are there any opportunities and how might you deal with the risks? For example, if you currently export to the EU, what other overseas markets might you target?
Article by Kate Westbrook, Partner at Thrings source https://www.insidermedia.com/blogs/southwest/ten-things-to-do-before-brexit
Assess the strength of your supply chain and the impact that Brexit will have. Gain an understanding of the additional export or import licences that will be required. Will any links in the chain be adversely affected? If so, is there a case for diversifying, especially outside the EU with new suppliers?
Understand what aspects of your business are regulated either directly by European legislation or indirectly by EU-imposed directives. Allocate responsibility to someone to keep the business informed of any proposed or actual changes in these areas.
How will Brexit affect your staff? It’s still unclear how EU/EEA/Swiss migrants will be affected, and they may need guidance. And what about your business’ recruitment plans? If you’re likely to recruit EU nationals in the future, you’ll need to familiarise yourself with immigration sponsor and application processes and connect with organisations that can help you.
Get your contracts ready for Brexit. Make sure any contract you enter into from here on in considers the impact of Brexit and, ideally, caters for any changes to price, duties payable, and delivery methods and timings.
Identify what IP you own or licence from third parties and establish the extent to which you are using EU rights such as EU trade marks and community design rights. Will these rights need to be replicated in post – Brexit UK? Also, consider all current and future IP licences and assess whether Brexit will affect them.
The EU’s new General Data Protection Regulation (GDPR) – to be introduced on 25 May 2018 – will still be applicable for businesses operating in the EU and/or interacting with EU businesses and consumers. The Data Protection Act 1988 will continue to apply in the short to medium-term, and UK businesses will need to continue complying with it while working towards compliance with GDPR.
Take advice on tax
One impact of Brexit will be the import duty associated with trading with EU businesses – not just the additional cost but the extra time and complexity. Also consider your VAT position. Many businesses use deferment and customs warehousing arrangements to mitigate the impact on cash flow due to not being able to include VAT on EU goods in VAT returns.
Consider lobbying the government and seeking to influence the conversation. This might be directly with your local MP, or through trade associations and other membership bodies.
Although written a while ago whilst trailing through the internet this seemed the best advice and possibly a little late for some for all of things but nevertheless useful, so thanks Kate.