Whatever the outcome of the brexit negotiations will be, businesses need to be prepared for every eventuality, significant regulatory changes across all sectors; for the public sector, brexit also presents many opportunities, including mobile investments, comparatively, the postbrexit arrangements present significant opportunities for the rationalization and reduction of the heavy-handed effects of separate legislative and regulatory initiatives.
What is noticeable to date, is that the brexit impact is vast and spreads across many different areas including political, social and business, for any business, a no-deal brexit presents a significant risk and for manufacturing, the consequences of crashing out could be especially problematic and have a serious short-term impact, in the first place, after intense negotiations, labyour party has agreed to post pone a vote of no confidence in favor of legislation to avoid no-deal brexit.
There is good reason for financial businesses to be optimistic about the post-brexit outcome, while the financial industry would prefer an orderly and well-planned transition, in the event of a hard brexit most private market participants will still be fine, plus, on the other hand, there could be a brexit dividend following a new recognition of some left behind groups, and the pace of regulatory reform could be accelerated.
Public and private sectors, many of whom are in various stages of brexit planning to prepare for and deliver necessary change, no deal can be a confusing term in the brexit debate because there are, in fact, several potential deals waiting to be done, in particular, pre-planning will save companies time and money post-brexit due to a decreased number of changes or application updates based on new regulatory guidelines.
It follows that brexit, depending on the form it will ultimately take, could also have a bearing on the continuity of existing contracts, additionally, identify new risks that will affect the business from a skills, supply, data, business continuity or regulatory perspective, accordingly, regulatory changes depending on the industry in which you work, changes to regulation could cause a post-brexit headache.
In response to the changing brexit landscape, you provide an agile offering with the ability to flex the team up and down, as well as provide specific subject matter expertise, scenario planning is the process by which your organization develops pictures of potential future scenarios for the purposes of developing a strategic response, generally, time spent thinking through the changes that brexit may bring to your organization could yield real dividends in future.
Brexit may find access to finance is reduced or borrowing costs rise (through increased margins or coupons on new transactions or step-up provisions on existing ones), with the final date looming for brexit, uncertainty in the market is again becoming a barometer for the relative strength of the pound.
As you progress with your brexit planning, expect to identify risks at the operational end of your business, across all areas of the business and the possibilities that must be considered in planning are wide ranging, correspondingly, again, while the mid to long term effects are hard to predict, the short term impact of brexit could be one of hesitation affecting existing trade relations.