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East Midlands Chamber News

Businesses to be probed over plans for Brexit

Businesses are being probed over their plans for managing Brexit.

With the deadline for Britain to leave the European Union now only ten months away, East Midlands Chamber* and its Brexit Advisory Group have been urging businesses to begin planning for different scenarios.

So far, there has been no definitive research done to find out how much progress has been made or what organisations are doing to ensure success in a post-Brexit global trading environment.

Only last month, the Brexit Advisory Group published a checklist (available here) of things businesses should be doing now to best position themselves as the UK transitions out of the EU.

But the Chamber’s second Quarterly Economic Survey for the year, which launched today (Tuesday 22 May 2018), will probe deeper into what firms have done so far and what they are planning to do in the immediate future.

Chris HobsonChris Hobson, the Chamber’s Director of Policy, said: “With the deadline for the UK to exit the European Union now less than a year away, the Chamber continues to lobby Government to get answers on the issues that will impact businesses of all types.

“Despite continued uncertainty, however, there are things that businesses should be doing now to position themselves to respond to the challenges and opportunities that will arise. Some of the key considerations are detailed in the Chamber’s Business Brexit Checklist.

“This survey will give us our first real insight into what steps businesses in the region are taking to prepare for Brexit. The answers given will help the Chamber’s Brexit Advisory Group understand those areas where businesses may value more support from the Chamber over the coming months and help shape our continued lobbying messages as we work with Government.”

The survey will ask organisations whether they have held high-level meetings to discuss trade beyond Brexit, if they have revised business strategies or investment plans, reviewed export activities, considered future workforce access, looked at the impact of potential border delays and rules of origin certification, changes to tariffs and VAT rules or thought about intellectual property rights.

The Brexit Advisory Group was set up, in partnership with Chamber Strategic Partner RSM - one of the UK’s leading providers of audit, tax and consulting services, to help local firms and other organisations navigate the Brexit process.

To take part in the survey, visit https://bit.ly/2LeMKUZ.

The Chamber’s Quarterly Economic Surveys are being sponsored in 2018 by the University of Leicester School of Business. For information about the University of Leicester School of Business visit www2.le.ac.uk/departments/business.

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