Leaving the European Union (EU) - advice for businesses
We know that business owners will want to understand how exiting the EU will affect you and your employees. We have created some guidance for large and small businesses across all sectors, and steps you will need to take.
What happens next now the United Kingdom (UK) has left the EU?
The UK officially left the EU on 31 January 2020. During the next 11 months the EU and British Government will be negotiating their future relationship. This is called the transition period and is due to end on 31 December 2020.
These negotiations will cover a range of issues including:
- how a future trade agreement might look
- the movement of goods and services across borders
- law enforcement and security
- access to fishing waters
- the licensing and regulation of medicines
During this 11 month period, the UK will continue to follow EU rules and regulations and our trading relationship will remain the same.
Will your business be affected?
The impact of Brexit on businesses will become clearer as the trade deal and agreement with the EU over the free movement of goods and materials develops.
What do to during the transition period
It is important that you use the transition period to make sure you and your business are ready for a new customs arrangement with the EU.
Specific advice for your business
You may wish to consider joining a recognised body or organisation if you're looking for specific sector advice. Alternatively, the Coventry and Warwickshire Chamber of Commerce provide a free Brexit Business Health Check.