According to a recent British Chamber survey, 62% of businesses have made no preparations for Brexit. As a Chamber member, we want you to make the most of the insights available, and give you practical steps for managing this uncertainty.
Practical steps you can take as we still deal with the uncertainty around Brexit:
- Have a robust and aggressive growth business plan
- Have a joined up tax strategy
- Research your markets
- Understand the variables, Brexit being just one of the wider global changes.
- Make sure you have all your business housekeeping in order so you are well placed to adapt through change
If you trade internationally:
- Revisit your commodity codes
- Look at ways to reduce your exposure to fluctuations foreign exchange
- Scrutinize duty paid
- Consider getting AEO status to fast track at ports
- Make sure your international trade documentation is handled by someone you really trust
- Look at your intellectual property and make sure you are protected in the countries you trade with
The South Wales Chamber or Commerce runs regular International Trade Training courses, which can provide you with a wealth of knowledge on the often complex procedures associated with trading abroad. We urge you to make the most of your membership and the resources available, that can go a long way in helping you prepare for the future.
Don’t forget the Risk Register and Brexit Checklist are being frequently updated, so please do check in often for the latest version.
As ever, if you have any questions, or any member queries that you don’t have answers to, please do not hesitate to get in touch with your relationship manager.
South and Mid Wales Chamber of Commerce