POLITICS Stand firm


A lot of water has passed under the bridge since the EU Referendum in 2016. Yet, three years on, are we really any wiser


about what the UK’s post-Brexit future may hold? There’s no dancing round the fact that Brexit


uncertainty has frustrated businesses of all sizes. It has thrown investment and recruitment


plans into disarray, put pressure on prices, cash flow and productivity and just made life difficult, in general, for business to plan for what is still, in many respects, unknown. At the time of writing, we were still none the


wiser about whether the UK’s divorce from the EU would be a messy, no-deal affair or if the Prime Minister and his top team would push an 11th hour rescue deal across the line. There are many that hold the view that the


real-world impacts of a no-deal exit on 31 October will reverberate across the UK. The Government has repeatedly said it wanted


to reach a deal with the EU, with credible evidence from multiple sources underlining the importance of delivering a negotiated settlement. Businesses do not want to see a messy and


disorderly Brexit, but ongoing uncertainty means they must prepare for all possibilities as the October deadline looms.


While most firms have taken basic steps to


prepare for change, and Government has stepped up communication to businesses, ongoing uncertainty makes business planning with confidence next to impossible. Businesses are facing significant changes on


multiple fronts, and need official guidance that is consistent, precise and easily accessible, enabling them to trade in any scenario. Although the majority of our members have


told us they are prepared for Brexit, whatever happens, and feel fleet-of-foot enough to respond to any unforeseen forks in the road, there are many areas where there simply isn’t enough clear and actionable information for businesses to mitigate some of the impacts of an unwanted no-deal exit. Many members have told us they would revise


recruitment and investment plans downward, rather than up, in the event of a no-deal exit. Low levels of awareness around special


customs and trade schemes are of particular concern, as this highlights the potential for disruption at borders in an unwanted no-deal situation. Businesses have also raised issues regarding


risk management, strategic planning and where they can access the help and support they need to succeed.


‘While most firms have taken basic steps to prepare for change, and Government has stepped up communication to businesses, ongoing uncertainty makes business planning with confidence next to impossible’


as Brexit enters end game


A no-deal exit on 31 October will hold many real-world implications


And there are ongoing concerns about issues


like skills and workforce planning and taxation, although these latter few would perhaps exist under most circumstances as perennial business issues that are not necessarily linked to Brexit. The prolonged nature of the Brexit


uncertainty, including the still real risk of a no- deal exit, together with a deterioration in global economic conditions, are expected to weigh on


54 business network October 2019


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