The Eversheds Sutherland report on how prepared British businesses are for Brexit reveals a number of businesses are in danger of sleepwalking into a scramble to develop Brexit plans over the next few months.
While we hear boards have Brexit on their agendas, evidence shows the discussion around Brexit is not detailed enough. Boards are discussing the process rather than the world post Brexit post EU membership. It is important to look ahead.
Frictionless borders could happen but business must anticipate more red tape, tariffs and supply chains getting disrupted. There will be inflationary pressures all around.
European employees may not be available to fill jobs they currently hold, students may not come to British universities and UK legislation may drift from EU legislation.
The UK government's green paper on its industrial strategy does not address a post Brexit world adequately. Comments on the paper are due in mid April and it is an opportunity not to be missed to ensure the governments white paper links its industrial strategy to a post brexit world.
Eversheds Sutherland's Brexit report is available here: www.eversheds-sutherland.com/brexit
British business ignoring Brexit dangers, warn lawyers