The UK left the EU, including the single market and customs union, on 31 January 2020, and then entered a ‘stand still’ transition period. During that time, most aspects of the UK’s relationship with the EU, and with other countries which were unaffected by our EU rights and responsibilities, remained the same.
On 31 December 2020 that formal 11 month ‘transition period’ will end. In many ways, this is the first time that the practical effects of leaving the EU will be felt by businesses and consumers.
All businesses should be thinking very carefully about their own state of readiness, including assessing the stability of supply chain and preparedness of partners. While there are areas where the BCC is calling for more information, a great deal can be achieved now to prepare for changes which will happen at the end of 2020.
The BCC’s Business Preparedness Checklist sets out many of the areas you should look at and plan for, including links to helpful guidance. The key areas to think about:
Your business is not alone at this time of change. For more than 160 years, the British Chambers of Commerce has supported UK business and remains expert in trade matters.
Find your local Chamber here.