Preparing your business for Brexit
Now is the right time for Australian businesses and individuals to think
about what Brexit could mean for you and your company. The UK is scheduled
to leave the EU on 29 March 2019; however, how the UK will exit from the EU
Potential exit pathways include:
an amended Withdrawal Agreement is approved, with a transition
period to December 2020. During the transition period it is likely that the status quo for
trade will continue (Explainer on the Withdrawal Agreement).
- an extension of time to negotiate an outcome.
- a no deal Brexit.
No deal Brexit
Australian businesses should consider how a ‘no deal’ scenario could affect
them, and begin taking steps to mitigate against such a risk.
Some key things businesses should be thinking about:
- What volume of trade do you currently have with the UK and the EU and what are the potential supply chain implications?
- What guidance for importing to and exporting from the UK and the EU do you need? There is information available through the Department for Exiting the European Union and the European Commission Preparedness notices.
- Do you need legal advice and/or to engage a migration agent, customs broker, freight forwarder or logistics provider, to support you in preparing for all eventualities, including ‘no deal’?
The UK Government has created a Partnership Pack to help support businesses preparing for day one if the UK leaves the EU without a deal.
For more information
Additional information on Brexit can be found on the following Australian Government websites: