Originally written by Jo Thornley on Small Business
Brexit uncertainty is now very much, in US parlance, a ‘known unknown’ which will affect everyone in the UK in a variety of ways.
The good news is that now that the deadline has been pushed back to 31 January, you have more time to prepare.
Brexit opportunities and challenges
Preparing for withdrawal from the EU should be slightly easier for a small to medium-sized business simply because their smaller size means they can often respond faster and more flexibly than their corporate competitors. So as an astute entrepreneur you should try to stay alert to any such niche opportunities Brexit may send your way.
However, your chief concern will be to weather Brexit uncertainty as best you can. To do this successfully, your first and most vital step must be to keep yourself informed about political and economic Brexit developments at both macro and micro levels.
This will require 360-degree vigilance because some issues may directly affect your business trading, perhaps in the form of new legislation. Other issues may indirectly affect your cash flow by impacting upon your supply chain or by altering the priorities of your customer base.
Elsewhere, there may be other changes which affect