Is A Brexit-Proof Business Possible? 

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Given that it is inevitable that Britain is going to leave the EU, businesses on both sides of this debate have to be ready for the oncoming business environment, as well as the inevitable changes that will come with it.

1) Get Inspired!

Take a closer look at particular businesses that are like yours but based in nations that don't rely on a single continental market like Europe. Note down how they operate differently than you have. Once you go over a handful of examples, you can start creating business scenarios and strategies based on what've discovered and get inspired.

2) Do Some Modelling:

Also keep in mind that you should look at various scenarios in the larger context of what a potential Brexit economy might wind up looking like. Could it follow the Canadian Model? The Swiss Model? The Norwegian Model? Those are all great places to start. If you want more, then look for ECT courses covering Energy, Marketing, and Finance. They're available all over the United Kingdom, particularly in Birmingham and London. According to this blog from Fircroft, it’s hard to know whether we are seeing the shoots of post-Brexit recovery or not.

3) Brace For Bad Times:

Much of the press focused on Brexit has emphasized the potentially negative consequences of the referendum to withdraw from the EU, ranging from the general impact on Britain's economy to losing trade partners. Take a hard look at what your business might need to change given the possible volatility that comes with the UK pulling out of the larger market. Act fast now in any areas that might give you trouble once Brexit is put into motion.

4) Practice Flexibility:

Be certain that your company staff are well-trained and readily able to adapt to a Britain that functions independently of the EU. That will mean including a robust financial team that can react to potential turbulence. Having a staff that is trained properly in Financial Management and Project Management is a sound method of ensuring flexibility. Have them trained in course materials updated to reflect recent developments.

5) Seize All Opportunities:

Brexit offers potential opportunities for anyone who is able to react fast and adapts positively to the new economy. Be sure you don't get so focused on protecting the business that you pass up possible opportunities which arise due to Brexit. Take a look at countries outside of Britain or even the EU and find companies similar to yours to see how they gain advantage from being positioned in a country that's outside a single market.

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Tuesday, 20 November 2018
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