Originally written by Giles Dixon on Small Business
The new prime minister is preparing for a no-deal Brexit on October 31. What does this mean for your small business and how can they survive it?
If you are trading between the UK and the EU, there could be a lot of disruption in October, whether we leave the EU with or without a deal. The situation in some ways is similar to force majeure – an unforeseen event which can cause disruption and damage.  But until it happens, you won’t know how badly it will affect your business.
If you are an agent or distributor of a company in the EU or you regularly trade with companies in Europe (or vice versa), you need to think about the repercussions which a hard Brexit might have on your business. The impact could be practical – e.g. do you need to pre-purchase goods to avoid the risk of border delays after October 2019? Or they could affect pricing and profit – e.g. the risk of new tariffs.
Read: Government mulls small business funds to limit impact of no-deal Brexit
It is also important for businesses dealing with the EU to realise that whatever happens on October 31,

Read more...