iPoint Blog

Are you ready for Brexit? Check your Brexit-Readiness

On March 29th 2017, the United Kingdom notified the European Council of its intention to withdraw from the European Union, thereby triggering a negotiating process to establish a Withdrawal Agreement within a two-year timeframe.

Therefore the UK will leave the EU on March 30th 2019 at 11pm UK time as the date set by Article 50 of the Treaty on European Union and companies need to prepare for the upcoming changes. Only by mutual agreement in the course of the withdrawal negotiations, this date may change.

Be prepared – Brexit will affect your supply chain

There are various risks that businesses all over the world are facing when “Brexit’s coming home”. In almost every company Brexit will affect especially the supply chain.

The preparation for Brexit at companies can be extensive – depending, among other things, on the future involvement in the UK, the size of the company and the industry.

For example chemical exports from the UK are worth £17bn a year. Without a Brexit deal, importing chemical substances into the European Union would require registration with an affiliate or representative within an EU country. That takes a while, and negotiations on it cannot begin until Britain has exited the EU.

Brexit, Ready or not?

The Brexit-Readiness Check is intended to show you where your company needs to adapt and adjust.

Answering six questions covering supply chain transparency, risk assement, transport & logistics and product compliance will help you identify the Brexit risks for your company.

Daniel Maier

Add comment