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Updated: 2 November 2021
Update 19/1/20:
Now that the transition period has ended and a new deal with the EU has been agreed, many businesses will be wondering how this affects them. To help smooth your transition, we’ve taken a detailed look at all the latest Government guidance and resources to help you ensure your business is ready for the new arrangements.
You can use the following links to jump to a relevant section, or continue to read on below.
Britain left the EU on 31st January 2020, however we were in a transition phase up until 31st December 2020. This transition phase was a period agreed between the UK and EU in which the UK is no longer a member of the EU, but continued to be subject to its rules and remained part of the customs union and single market. This has now ended, so businesses need to ensure they’re prepared for any impact that leaving the EU might have on their business.
With a deal agreed with the EU on the 24th December 2020, we have a much clearer idea of the relationship between the UK and EU now the transition period has ended. You can learn more about what’s changing, what’s not and how the deal will affect your business here.
To ensure you’re prepared now Britain has officially left the EU, it’s important to know which industries will be affected by Brexit. Those who will need to make extra preparations include:
For any that fit into those categories, or those who aren’t sure if they do fit into those categories, the first port of call should be the gov.uk/transition website. Here you can complete a short online survey, which will provide a helpful starting point in terms of issues that you’ll need to be aware of. These will range from things like roaming charges to patent protection and more, and you’ll find links to both further reading and timelines which will help you prepare.
For businesses working in the consumer goods sector, there’s a range of guidance available to help you get your business ready. The key areas are:
If your business exports to the EU, there are a number of things you’ll need to consider in preparing for Brexit:
As with exporting to the EU, there are a few things that you’ll need to have prepared if you’re importing from the EU. These include:
From 1st January 2021, product manufacturers will need to use the new UKCA mark for any goods placed on the market in Great Britain (including England, Wales and Scotland). It will cover most goods that previously required the CE marking. You can read all the Government’s guidance about whether you need to use the UCKA mark and how to do so here.
Please note, the process of marking for goods placed on the Northern Irish market will be different to those above. You can find more detailed guidance on that here.
Which regulations and standards for product manufacturers apply to your business after Brexit will depend on which market you’re planning to place these on. To learn more about the individual requirements for each, click on the links below:
As with the consumer goods industry, the services sector will also see a considerable amount of change after the transition period ends. Here are the key points to consider:
For businesses in the services sector who sell their services to the European Economic Area (or EEA, which includes the EU plus Norway Iceland and Liechtenstein), or to Switzerland, you need to prepare the following:
If you plan to live and work in the EU after Brexit, there may be some additional measures you need to consider. To learn more about these, check out the advice on gov.uk, where you can also find more detailed guidance on living and working in specific countries. Here are a couple of things you may want to consider:
When it comes to driving after Brexit, either in the UK or abroad, there are some changes you should be aware of:
For those who call or text EU or European Economic Area (EEA) countries for business purposes, there might be some changes to the rules and practices. You can find a full list of Government guidance regarding this here.
Visiting the EU after Brexit
For those travelling to the EU after Brexit for business purposes, there will be extra preparations you’ll need to make. It’s advisable to double-check your passport and what it allows you to do, organise proper healthcare insurance and check your other documentation, such as driving documents. For a full list of guidance regarding visiting the EU after Brexit, click here.
If you’re still looking for some other resources to help you prepare your business for Brexit, there are a range to choose from. We would recommend::
Your first port of call if you’re having trouble working out what you need to do to prepare for Brexit is the Government. To help businesses navigate the many changes, there’s a Government helpline you can call for advice. You can call them on 0300 2000 900, and the line is open from Monday to Friday, 8am to 6pm.
In addition to the Government’s guidance, the Federation of Small Businesses have put together their own Small Business Brexit Pack. This covers everything from the withdrawal agreement to end state scenarios, and could be a great place to gather practical advice for your business. You can check that out here.
Another handy tool for your Brexit preparations is the Brexit Advice Service that Entreprise Nation have set up to help small businesses. It’ll walk you through various questions about your business, and recommend you to the relevant resources you may want to check out.
The Chambers of Commerce have put together a wealth of information for small businesses looking to prepare for Brexit. You’ll find checklists, guides and more to help you make the right adjustments to your business.
Below are some of the resources they offer:
All information is correct at time of publishing. While we want to help as much as we can, the information and documents found here are provided solely for informational purposes and should not be considered financial or legal advice. To the extent permitted by law, Funding Circle does not accept any liability for any loss or damage which may arise directly or indirectly from the use of, or reliance on, the information contained here.If you have any questions, please speak to your professional adviser or seek independent legal advice.
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