Plan, plan and plan – that was the overall message from the experts who spoke at KGH’s Brexit seminar in Stockholm on Wednesday. Post-brexit will not be the same.
On Wednesday, experts from the EU and the UK, both industry and government representatives, met to discuss the impact of Brexit for businesses. Although much is unknown, everyone agreed that there is much to gain from starting and continuing to plan based available information. Post-Brexit, there will be a new border, and there will be a new customs procedure with import and export declarations for all goods going in and out from the UK. The expert panel invited participants to work with scenarios and evaluate the effects based on their current business and supply chain. Being better prepared reduces the risk of interference in business while strengthening competitiveness. Some questions to start thinking about included:
- How to handle potential new border formalities in both directions?
- Will BREXIT border formalities impact our contracts or prices?
- Should we change our supply chain as a result of BREXIT?
- Should we change supplier/distribution patterns as a result of BREXIT?
- How should we organization the flows of goods from/to UK?
- How will our products/services be effected in relation to EU27? To other countries?
- Do we have the correct permits and licenses for all our units?
- How to handle UK post-BREXIT risks?
If you want to discuss the consequences of Brexit in more detail, or know more about the service KGH provide to help companies prepare better, please contact Lars Karlsson, managing director for KGH global consulting, at email@example.com.