Count down to 29 March 2019

From the publication date of this notice, 28 December, it is still 91 days counting down to 29 March 2019.

We are talking about the United Kingdom (UK) in its relationship with the European Union (EU), in short BREXIT.
Much has not yet been definitively settled and various scenarios are conceivable.

For each scenario one must have a plan of approach. There may well be effects with risks associated. Think for example of:

Plan A(s is): nothing happens at all. In other words, the UK will remain in the EU and all existing arrangements will remain intact.
Many preparatory measures have been taken, including stockpiling in the UK to counter stagnation in supply of parts and food. Risk: there is temporarily no need for items, putting prices under pressure outside the UK.

Plan B(rexit): there will be a Brexit in one way or another.
Will your UK customers continue to exist and continue to be creditworthy? Can they meet their payment obligations? Or: do you have EU customers, who are suffering financial problems because of their UK customers, who are suffering. Think of not being able to produce an item by missing a part, to be received from or to be delivered to the UK.

Plan C(ontingency): Do you have an alternative sales channnel for those items that cannot, will not timely, or no longer need to be delivered to the UK? Have you arranged alternative lines of supply so that your own production does not stagnate? Are you able to switch between suppliers, so that you don’t end up without or with double stocks.

One can take (temporary) measures for the various scenarios and the risks that may arise.

Do you have a plan of approach, crew trained and ready and, in case of import or export, do you have the documentation and arrangements in place in time? Do you need an actual or fiscal presence in the UK or as a UK company in the EU? Can you make use of reliable representatives and/or have you engaged a local manager or management agency?
Need for legal advice, tax and financial support: don’t wait too long searching. In January you can still think about this and arrange contracts.

Remarkable: 29 March is a Friday and if the Brexit goes ahead, it will take place at 24 hours (Middle) European time. This is 23:00 Greenwich Mean Time (GMT); the British are keeping to the Continental deadline.

Will you block this weekend in your agenda or will you be on time at least the following Monday? Don’t forget that during this weekend there is the transition from winter time to summer time on 31 March!