Getting your startup ready for the end of the Brexit transition period

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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.

The information contained in this video is correct at the time of publishing. We recommend that you carry out your own independent research to understand how exporting after the end of the transition period will affect you and your business.

We have pulled the resources on this page together for you to help with your independent research and business decisions. 

Barclays (including its employees, Directors and agents) accepts no responsibility and shall have no liability in contract, tort or otherwise to any person in connection with this content or the use of or reliance on any information or data set out in this email unless it expressly agrees otherwise in writing. It does not constitute an offer to sell or buy any security, investment, financial product or service and does not constitute investment, professional, legal or tax advice, or a recommendation with respect to any securities or financial instruments.

The information, statements and opinions contained in this content are of a general nature only and do not take into account your individual circumstances including any laws, policies, procedures or practices you, or your employer or businesses may have or be subject to. Although the statements of fact on this page have been obtained from and are based upon sources that Barclays believes to be reliable, Barclays does not guarantee their accuracy or completeness.

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