Preparing your business for Brexit

Author: Sophie Dean
Business Librarian/Advisor

How can you prepare your business for Brexit?
As the clock is ticking down to the UK’s planned departure from the EU on 29 March, how can you prepare your business for Brexit? City Business Library have put together a list of resources that will hopefully help you to consider some of the key issues.

UK Government guidance
The UK Government provides a quick tool on the gov.uk website, called “Prepare your business for the UK leaving the EU”. Answer 7 questions about your business and you will see relevant guidance published for your industry.
Gov.uk: Prepare your business for the UK leaving the EU

Business support organisations
Business support organisations are a helpful source of advice and information on Brexit. Why not take a look at these links below, provided by the ICAEW, FSB and British Chambers of Commerce, which highlight considerations such as contracts, supply chains, staffing requirements and tariffs.

ICAEW: How to prepare for Brexit – checklist

FSB: How to prepare your business for Brexit

British Chambers of Commerce: Business Brexit Checklist

Industry news
You may already be following the latest Brexit news, but you can also keep up to date with how your specific industry is affected by Brexit by reading trade magazines. City Business Library subscribes to magazines including The Grocer, The Caterer, Construction News and Property Week, where you will find the latest news, analysis and opinion.

Market research reports
IBISWorld publishes in-depth market research for UK industries as well as USA, China, Australia and Global reports. Access UK Brexit Impact Statements on over 400 industries, which discuss the possible consequences of leaving the EU on your industry. This database is available at City Business Library.

You can also access the market research database MarketLine at City Business Library, which offers worldwide market research reports. Read analyst comment on Brexit and the potential implications on UK industries.

Business networking events
Why not look out for business networking events, where there will be the opportunity to meet like-minded businesses and discuss with industry experts what may change as a result of Brexit. The Cobra database, available at City Business Library, is designed to help people start and run a business. It is a great source of information on business events, networking groups and support in different areas of the UK. You can access Cobra for free outside of the library with a City Business Library membership card.

Exploring new markets
Have you considered looking at markets outside of the EU? City Business Library regularly hosts international trade events, which are aimed at introducing people to new emerging markets. Previous events have included countries in South America, West Africa and the ASEAN region and we are planning our next event on opportunities for UK businesses in Hong Kong. Details of future events will be published on the City Business Library website.

For further information on new markets, the following City Business Library resources will hopefully help you: Global Trade Tracker is a comprehensive resource for import and export data, EIU country reports include information on the economy, politics and business environment, and Exporters Almanac provides e-commerce information, country and industry profiles and links to online industry directories.

If you have any questions on City Business Library, please get in touch. We’d be very happy to help and hope to see you in the library soon.

 


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