EU Transition Period – Is YOUR business prepared?
In the current climate, we could be forgiven for possibly putting Brexit at the back of our minds. However, we need to remember that the UK left the European Union on 31 January 2020.
But hold that thought, as that is not the end of the Brexit story, especially for businesses.
When the current transition period we find ourselves in ends on 31 December 2020, there will be a guaranteed set of changes and opportunities for which businesses need to prepare, as the UK leaves the customs union and single market, including changes to the way businesses import and export goods, and the process for hiring people from the EU.
As a business, we all have a responsibility to ensure we know what to do to ensure we’re informed and up to speed with what is expected of us to meet this deadline.
So what action can your business take now? There is a lot to consider, but for starters, if you’ve not really given this much though, we recommend you follow these three points:
Get an action plan – UK Government have a dedicated website for any business to visit. You can also obtain targeted advice on what you may need to do before the end of the year by completing the online questionnaire
Stay up to date – If you travel to Europe for business purposes after the 31st December 2020, find out what your business will need to comply with
Be data secure – rules around data transfers between the UK and EU will change in 2021. Find out what this means for your business.
Three initial steps to set you in the right direction to make you comply with the EU Transition guidance. It is a tough time for businesses overall at the moment, but we do need to encourage businesses to ensure this is take on board.
Stay up-to-date with the UK Government information, guidance and advice, via their website, social media platforms and news alerts.
We’re here to support and guide in whatever way we can, so also keep an eye on the Invest in Cardiff and Cardiff Council social media platforms for updates and information, as and when we received it.
Take on board the guidance and good luck! We’ll see you on the other side!