9 Month Window to Insulate Your Business Against a Hard Brexit

9 Month Window to Insulate Your Business Against a Hard Brexit.

 

The United Kingdom left the European Union on the 31st of January 2020, ending a 47-year relationship with all countries in the EU. This 47-year allegiance ending will bring uncertainty to the trade relationship between the UK and the EU.

The new date for businesses within Wicklow to be aware of is December 2020. This is a transition period for the UK and EU to strike a trade deal and figure out their future relationship. Business owners should take advantage of this transition period according to the Local Enterprise Office Wicklow and use every support available, not only through the Local Enterprise Office but through other state agencies, to get their business #BrexitReady.

These 9 months represent a short time period for a trade deal to be struck. Therefore, there is a real risk that an agreement will not be made and a default agreement will come into play where the World Trade Organisation tariffs and rules will apply. This signifies a real risk of increased costs and administration burdens to businesses. In light of these potential threats businesses in Wicklow should get as prepared as possible within this transition period. 

The Local Enterprise Office Wicklow is providing free, one-to-one, and confidential Brexit Mentoring with Moira Creedon of Artemis Consulting on February 26th 2020. There are three main areas covered in these sessions; the potential risk Brexit may have to your business, the impact these risks could have if they occurred, and the steps you can take now to reduce the risk and the potential cost this will have on your business.

Moira is a teacher and consultant in Strategic Finance and has worked with both large corporate and SME clients worldwide helping decision makers at strategic level to understand finance and hence improve their ability to formulate and implement strategy and innovation across all elements of their business. 2020 is the final opportunity for businesses to get all elements of their business prepared for the trade deal that is to come.

Mentoring is free, however booking is essential: https://www.localenterprise.ie/Wicklow/Training-Events/Online-Bookings/

The Local Enterprise Office is also running a free Prepare Your Business for Customs Workshop on the 1st of April 2020: https://www.localenterprise.ie/Wicklow/Training-Events/Online-Bookings/Prepare-Your-Business-for-Customs-Workshop-01-04-2020.html

 

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