Preparing your business for Brexit

The United Kingdom (UK) formally ceased to be a member state of the European Union (EU) at 11pm GMT 31 January 2020 (10am AEST 1 February).

The UK and the EU have now entered into a transition period until 31 December 2020.  During the transition period, the existing situation for Australians living, travelling and doing business in the UK and EU remain unchanged, while the terms of the future EU-UK relationship are negotiated.

Now is the right time for Australian businesses and individuals to think about what Brexit could mean for you and your company.

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’?

For more information

The Australian Government is working to ensure that any risks posed by Brexit after the transition period are addressed and are identifying opportunities to enhance Australia’s relationship with the UK and EU.  This information can be found on the following Australian Government websites: