The CBI has launched a report with some 200 recommendations and actions for businesses and governments to take as the likelihood of no-deal Brexit increases.
The report, titled ‘What comes next?’, unveils a detailed analysis of advice for its members and the wider business community, covering everything from the movement and regulations of goods to Northern Ireland and data.
The report introduces by stating that: “The CBI has analysed the no-deal preparations of the UK, the EU and businesses in 27 key areas of the economy and we have concluded that – despite existing mitigations – disruption is likely in 24 of those areas immediately after no deal.
“At the moment, this analysis shows there are no areas of relevance to the economy where the UK, the EU and the business community are all prepared well enough for no deal. In all 27 areas analysed, negative impacts are anticipated in either the short or long-term.”
Of the 27 noted key areas, areas the CBI deem the UK is ready are a common travel area in Northern Ireland, broadcasting regulations, competition within the people market and security of current residents.
Red flags include tariffs, the Irish border and free trade agreements.
The report suggests that the EU is even less prepared, with 15 key areas rated as wholely unprepared including customs, haulage, financial services and people mobility.
Overall business-readiness fares slightly better than both the UK government and the EU, although four key areas remain unprepared, 10 areas where some preparations have been made, nine areas of good short-term planning and four areas with sufficient long-term strategy to mitigate Brexit-related issues is in place.
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The report also goes on to make four critical suggestions for businesses, which are:
- Immediately resume no-deal preparations
- By the start of September, if resource allows, have made plans to communicate additional needs for mitigations to the UK and the EU governments
- By the middle of October, have agreed and reinforced communication routes into government
- If no-deal occurs, prioritise people
If your business is lagging behind on its Brexit preparations or needs expert guidance and roll-out plans for whatever the eventuality, talk to Go Exporting about or Brexit audit and consultancy.