Brexit – Are you prepared?

brexit-signs-400-by-273The result of the Brexit referendum in June 2016 has created significant uncertainty for UK, European and international companies.

There will be challenges and opportunities for business.

The negotiation process will commence soon and commentators regularly provide a range of stages and outcomes. In the meantime businesses must do their best to interpret the situation, assess their own position within it and construct (flexible) strategies.

Fortis Consulting London can assist companies to:

  • Understand the developing Brexit process and potential future outcomes
    • What is it, now & in the future?
  • Consider the potential impacts, positive & negative during the various phases of Brexit
    • What does it mean for your company?
  • Develop flexible strategies relating to potential opportunities and challenges
    • What are your responses?

David Stringer-Lamarre, Managing Director, of Fortis Consulting London, who leads this area, has delivered several presentations on Brexit, including at the London School of Economics, Payne Hicks Beach (Law firm), The University of East Anglia and Chaired an Institute of Directors, City of London discussion at Norton Rose Fulbright (Law firm).

Scenario planning for many businesses will look at future trading in goods & services with the EU. There are many challenges and these will manifest themselves differently for each business; including in which sector(s) they operate: financial services, tourism, law, manufacturing etc. Some of these challenges may be the availability of talent, equivalence of regulation, potential tariffs, non-tariff barriers & the enforcement of contracts.

There may be an opportunity to begin to trade with, or increase the level of trade with countries outside the EU.

Some companies are already scenario planning and asking what they need to have in place e.g. knowledge of the market, partnership agreements/JVs, knowledge of ‘how to do business’ in ‘new markets’, logistics etc.

Businesses should scenario plan as best they can as the negotiations and discussions move forward.