There are five key areas startups should consider get prepared, says Darren Farnell, Head of Barclays Business Banking Telephony Relationships UK.
The Brexit transition period will end on 31 December 2020, bringing in a new set of rules for many aspects of UK businesses. There is currently no trade deal agreed between the UK and EU agreed.
In this video Darren, lays out five key issues and questions that startups should consider to prepare themselves. “Do I import goods from the EU? Do I export goods? Do I employ any EU nationals? Will currency volatility cause my cash flow any difficulty? And then finally, a consideration around supply chain because it might not necessarily be my business directly impacted but there could be something indirectly that impacts on my business.” He outlines why these questions are important and how to address them.
In addition to this video, we’ve created a comprehensive checklist to help you prepare for the end of the transition period which you can read here
For more guidance on how to prepare for the end of the transition period visit our Brexit Hub.