INFORMATION
Getting your Brexit preparations just right
Keith Oates (pictured), Director at Mistral Associates, an SME growth specialist, assesses why now could be the best time for your business to be proactive when it comes to Brexit.
Brexit negotiations go on. However, you don’t need to wait before reacting. The winning businesses are already prepared and can react immediately. Assess your future options now
and you can start putting elements in place that may not be available to you as we get closer to Brexit becoming reality. Why? Pressure on most businesses may increase with finance becoming harder to get, interest rates rising, materials and fuel costs rising, pressure on wages increasing - all will reduce scope for manoeuvre even if new opportunities appear. Before starting, you need an
honest assessment of your strengths and weaknesses. When pressure on your business
increases, any minor weaknesses can become major problems, so don’t gloss over anything.
Brexit breakfast: Too hot, too cold or just right? Find out how different Brexit
results could affect key areas of your business, such as your customers, finance, supply chains and logistics, certifications, staff citizenship and skills availability, contracts, intellectual property, export options, changes to your existing markets and new threats including overseas competition. Effects will vary by sector.
However, a good approach is looking at both extremes then one or two middle options:
2. THE "SOFT" BREXIT The UK remains in the Customs Union and Free Trade Area. This would involve the least
changes from where we are at present. However there will nevertheless be changes to address.
1. THE "HARD" BREXIT
No or very little agreement - The UK deals with everywhere on world trade rules. This doesn’t just mean import
and export delays and costs, it is likely to mean greater competition from low-cost countries. Imported goods, raw materials and fuel will be subject to increasing prices. Even if you’re not affected directly, a lower pound and higher interest rates will put pressure on wage demands.
3. THE "SOMEWHERE IN-BETWEEN" BREXIT You may wish to consider two versions of this. The details could vary significantly between any two scenarios but the key issue is understanding the changes that really matter to your business and circumstances. Once you identify your critical
issues you can plan the actions you need or start readying alternatives. Regardless of the Brexit outcome, if you’re better prepared and faster to act than your competitors, that's a win.
Cliff College provides education and training with a particular focus on mission and evangelism. The College is situated on the outskirts of the village of Calver in the Peak District National Park.
Historically, Cliff was a Methodist Lay Training college. Today our student body is both lay and ordained and from a range of denominational backgrounds.
A conference centre is also situated in the grounds of the College.
We are experienced in accommodating groups of varying sizes and with differing needs and we would welcome the opportunity to discuss with you all that we can offer in order to make your conference a success.
Friendly and professional staff are ready to help you from your initial enquiry through to the end of your conference. We look forward to welcoming you to our facilities. We can host both residential and day conferences in our glorious surroundings.
To discuss your requirements please call: 01246 584200 or 01246 584205
Email:
conferences@cliffcollege.ac.uk
For further details visit:
www.cliffcollege.ac.uk/conferences/home/
54 business network April 2018
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