The United Kingdom is scheduled to leave the European Union at 11pm on March 29 2019 meaning our relationship with the EU will be changing. With the deadline marching ever closer, the Leeds City Region Enterprise Partnership, Enterprise Europe Network and the Department for International Trade are committed to supporting Yorkshire and Humber businesses, focusing on the UK’s changing relationship with Europe and how it might affect their overseas business.
As a result, a series of checklists was put together to help businesses prepare for the changes and implications over the coming months.
Getting goods delivered to their intended destinations is a crucial part of exporting. From delays at ports to changes in tariffs, there are many things for UK businesses to consider. Expert input came from Chamber International and logistics specialists Advanced Supply Chain Group.
The changes could have implications for UK businesses on how they get paid and what taxes are charged. It’s important to review these potential risks as soon as possible. Expert input came from NatWest bank and from accountants BDO LLP.
As the relationship with the EU changes, this could mean UK businesses need to review their IT systems as well as their online shopping systems. It’s important to check all systems are up to date and that they can handle forthcoming developments. Expert input came from IT specialists Freeman Clark and international business consultancy Bolst Global.
UK businesses may need to make preparations for human resources (HR) changes. There could also be implications for their HR management, employment practices and training. It’s also important to support employees who are EU citizen employees who may be feeling anxious about the uncertainties. Expert input from the Labour and Employment team at law firm Squire Patton Boggs was complemented by a practical case study from Leeds-based Equifax Ltd
Prepare your business for leaving the EU with potential contract reviews and legal relationships. The checklist considers what these issues UK businesses might face and what steps they can take to prepare. Expert advice from the Competition team at law firm Walker Morris was complemented by input on IP from the Enterprise Europe Network.
If you have any further questions and would like to speak to an International Trade Adviser, contact us and we will be in touch.