Harper James releases 'Preparing for Brexit' report
As we prepare for the end of the EU exit transition period, fast-growing UK law firm Harper James Solicitors has released a new report and step-by-step guide for companies to prepare themselves.
Harper James' White Paper, Preparing For Brexit, also sees SMEs, as well as business experts, predict the areas in which UK startups will require the most support.
Harper James’ CEO, Toby Harper, said: “Following the monumental challenges the COVID-19 pandemic has thrown up, businesses now face a new battle: dealing with Brexit.
“In the weeks and months ahead, one question will be on every entrepreneur’s mind: how will Brexit affect my business? As business owners, we don’t like uncertainty.
“The government now needs to provide regular, clear and updated advice on what our withdrawal looks like and how it will impact on companies across the UK. But, equally, as our report sets out, there are things that all businesses can do right now to try and best manage the challenges Brexit will bring.
“Getting the right advice now and ensuring your business is Brexit-ready could save you a lot of money and prevent disruption to your business in the future.”
Harper James’ report comes in the wake of a major study by the Institute of Directors. It revealed only a quarter of business leaders thought their organisations were fully ready for the end of the transition period.
Nearly half of the 978 company directors polled said they weren’t able to prepare. Of those, one in seven admitted to being ‘distracted’ by coronavirus. Almost a third said they needed the details of any changes to be clearer before adjusting.
The overriding message was businesses felt unable to prepare, whether due to pressures of the pandemic or because they needed more clarity.
That view is echoed by Emma Jones, the founder of Enterprise Nation. Writing in Harper James’ report she said: “We are ever optimistic about the opportunities Brexit might bring whilst trying to strike a balance between providing useful advice and clarity in response to announcements and challenging where we feel small firms might be marginalised. We think it's too early to tell what the impact will be.
"One thing we know already is that small firms will adapt when the time comes. In terms of startups there are many reasons to see a decoupling from the EU as a boost, certainly financially we might be able to see the opening up of investment routes into tech firms, for instance. We do, however, think small firms will need a lot of support, potentially financial, to get them up to speed and allow for continuity.”