We’re on the final countdown to Brexit – and if you’re anything like me you’re probably sick of the radio ads telling us to prepare – especially when we still don’t know the full and final details of what will happen come January 2021.
But there are a few steps you can do to prepare your business for Brexit. And number one on the list is use this great tool from HMRC – Get Ready for Brexit Checker – it will take you through a series of questions about your personal and business circumstances and advise what you need to do (if anything!).
Now if you trade with EU countries or import/export to/from the EU it’s pretty obvious that some things are going to change, and some of those things are still to be confirmed – talk about leaving it to the last minute!
But there could be other things that you haven’t thought of:
- do your suppliers work with or import/export to/from the EU? Will their service or supplies to you be interrupted? It could be worth checking with your suppliers to see if there is anything that could affect you – ie delays of importing parts/goods for your own products/sales.
- on that note – if supplies are due in and could be delayed is it worth ordering in bulk/early now to avoid any delays? you may also get a bulk order discount if you do order in bulk!
- if you have any legal contracts in place are they still valid from 1st Jan 2021?
- review your insurance policies – ensure they are all still valid, and no changes you need to be aware of.
- do any of your team need working visa’s?
- check your mobile contract – especially if you will be travelling for business (OK I know maybe not right now – but when we are back to usual travel) – are there any additional roaming charges? If you had EU countries included on your plan before will they still be included come 1st Jan 2021?