With less than 50 days to go until the UK is scheduled to leave the EU, the British Chambers of Commerce (BCC) has recently published a list of 20 critical questions that remain unanswered in the event of the UK leaving the EU without a deal.

Following the Chamber’s regular engagements with businesses from across the two counties, we have found that many key issues are still unclear for businesses. Companies need clarity regarding what trade agreements will be in place with countries around the globe, to whether and/or how they can move skilled staff between the UK and EU and which regulations will need to be followed.

The absence of transparency is resulting in unnecessary costs through the inability to plan or enacting contingency plans that have to cover a variety of outcomes.

Now it's time to talk

Speaking of the latest updates, Adam Marshall, Director General of the BCC, discussed that even companies who are trying their hardest to prepare are still in the dark on important matters from contracts through to customers. Some businesses have taken the decision to wait for the political process to conclude before acting, and may face sudden and costly adjustments if a deal is not reached.

We have heard time and time again that it is not in the interest of businesses to have a disorderly exit from the EU on Friday, March 29. While companies understand that negotiations are still ongoing, they are hugely concerned that the UK is not prepared for all eventualities which are now causing real damage to many businesses and the wider economy.

Members have access to a variety of resources including a Brexit Checklist and the compiled report of questions through Herefordshire & Worcestershire Chamber of Commerce’s website at hwchamber.co.uk/support/policy/brexit.

To find out more information, contact our Policy team on policy@hwchamber.co.uk.