- If you haven’t already done so, assign someone within your organisation responsibility for Brexit maintenance.
- Map out your potential pinch-points of exposure, from finance and tax liabilities to regulatory compliance requirements and EU employee audit.
- Review your supply chain to assess for direct and indirect impacts and, where necessary, seek out alternative suppliers.
- Evaluate how you will handle the potential burden of new transport and customs challenges. Will you need intermediaries such as freight forwarders and customs brokers?
- Check whether you need to adapt your stock levels and acquire additional storage space.
- Ensure you are communicating your Brexit plan to the board, shareholders and staff.
- Identify areas where your organisation can capitalise on Brexit. This might be by exploring new markets and trade deals, discovering new domestic openings and optimising processes under the new regulatory landscape. Brexit will be bringing opportunities as well as challenges!
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