Whilst political uncertainty around Brexit continues, we have produced a checklist for you to identify the aspects of your business which may be affected by Brexit (in whatever form it ultimately takes). You can download a copy of our Brexit Checklist here and we've summarised the main points below.
Scottish SME's can also apply for a 'Prepare for Brexit' grant of up to £4,000 sponsored by Scottish Enterprise, Business Gateway, Skills Development Scotland and Highlands & Islands Enterprise. Find out more about the grant here.
- Do you currently employ EU nationals or likely to seek to recruit EU nationals in the next couple of years?
- Do you or your staff regularly travel to the EU on business?
- Do you operate in (as opposed to export to) other EU countries?
- Do you have business premises in the EU?
- Do you transfer personal data to or from the EU?
- Do you import or otherwise rely upon materials, components or consumables (including packaging and labelling) sourced from other EU countries?
- Have you made contingency arrangements (e.g. creating a buffer stock)?
Read our article Just-in-time to prepare for Brexit
Trading: Customs etc
- Have you traded outside the EU before?
- Have you and your staff been trained on trading internationally?
- Are you an Authorised Economic Operator?
Read our article Is Authorised Economic Operator Status key to a smooth Brexit?
Trading: Ability to export
- Do you deal with goods or materials (e.g. plants, timber, GM food or animal products) the movement of which from outside into the EU is subject to restriction?
- Have you reviewed the packaging and labelling requirements for your products post-Brexit?
Intellectual Property / Brand protection
- Do you rely on EU-registered trade marks and designs in the UK?
- Have you considered whether you may need to submit additional trade mark or design filings in the EEA to secure protection?
- Have you reviewed the territorial scope of your IP Licences and future assignations of rights?
- Are the regulatory regimes which govern your business derived from EU law?
- Are you regulated by an EU regulator?
- Do your existing financing arrangements impose any conditions which could be impacted, directly or indirectly by Brexit?
- Have you reviewed your financial model and cash flow with Brexit (and associated contingency planning) in mind – do you need additional funding?
Read our article Brexit – what’s on the horizon for the rural sector?
- Have you considered how Brexit may impact on your or your suppliers’ ability to timeously meet contractual obligations?
- Have you reviewed both your supply chain and customer contracts for Brexit issues?
- Are you clear about what will be a Brexit risk
- Are you engaged in any form of contractual or regulatory dispute with a European dimension?