"Waiting until after the Brexit deadline is too late to prepare for the real effects of post-Brexit on your business continuity" (PWC UK, 2019).
Here are 5 tips on how to you can prepare your start-up, micro, or small business now.
Have a Brexit Plan and prepare now for post-Brexit
Plan by considering all the risks Brexit (and the changes) could bring on your business. Risks involve all aspects that could stop your business from continuing to operate as it is currently.
Stock up or find alternatives to items such as equipment, parts, materials, to ensure post-Brexit effects on your business are reduced.
Communicate with your supply chain, customers, and staff
Let them know how you are preparing for post-Brexit and find out how they are preparing. You do not want to find your business without a key supplier, client, or staff member post-Brexit due to your lack of preparation or theirs.
Be prepared for around 3 to 6 months of disruption after the Brexit deadline
The life we know today will be different post-Brexit. When things as we know it change there is a transition period before everyone settles into the new way of doing things. To soften the effects of a transition period, prepare for it.
Make sure your paperwork is in order now
Ensure all your customs, travel, tax, nationalization, travel, paperwork required by Brexit is in order. There are already significant delays in Government departments because of the volume of applications already.
Historical data for decision-making will be ineffective
Because business will be different post-Brexit because of the changes to trade Brexit brings, pre-Brexit historical data used for making business decisions will be ineffective, especially in terms of new trade procedures and markets, and businesses stockpiling in preparation for post-Brexit.
T.O.O.D is the bridge between your business today and the future. We provide smaller businesses with effective strategies and implementation schedules to prepare for tomorrow.
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