How do you prepare your business for Brexit when you don’t even know what Brexit will look like? That’s the challenge facing every SME in the UK that either sells internationally, has an international supply chain or relies on an international workforce.
So it is little wonder that 64% of UK SMEs have not made specific plans to prepare their business for Brexit. Yet SME’s employ over 15 million people and account for £1.8 trillion of annual turnover. With less than seven months to the Brexit deadline, despite the uncertainty of the outcome, it’s critical that businesses are prepared for the risks they may face.
A UK based initiative has been launched to help SMEs prepare their business for Brexit. In the absence of a coherent Government support infrastructure for SMEs, an international agency has stepped in to address this burning issue for businesses. Shaping Business has worked with EU Government funded programmes and with European businesses to help them prepare for Brexit. This knowledge and experience is now being made available to UK businesses to ensure they are as well prepared as their counterparts in Europe.
“We’re at a point now where businesses need to act and unfortunately there are no funded programmes in the UK that will provide the support that SMEs actually need”, said Ray Clarke, Managing Director of Shaping Business, the driving force behind this initiative. “As a result, we’ve designed an affordable programme for SMEs. This brings together business leaders to work collaboratively to address similar challenges supported by an internationally recognised framework to plan for the risks”, he added.
The aim of the programme is to ensure that SMEs are provided with the tools to enable them to identify, assess and mitigate the risks that Brexit poses to their business. Participants in the programme will gain a clearer understanding of the risks and an action plan to prepare their business for Brexit.
Businesses interested in the programme can find out more about it here.