Brexit Seminar: Essential Planning for Business
On 2 March, the Corporate Department held a seminar for clients on Brexit, and specifically, on the planning UK businesses should be undertaking now in readiness for the UK’s exit in two years’ time.
The seminar was hosted by Nick Sayers (Corporate). Our guest speaker, David Stringer-Lamarre (Chairman of the Institute of Directors, City of London Branch), spoke about the political/economic issues around Brexit, including how the economy has been affected since the Referendum result. This was followed by talks from three Payne Hicks Beach partners, Kathryn Bradbury (Citizenship and Immigration), Kevin James (Employment) and Jonathan Gatward (Corporate).
Clearly, long term planning for Brexit is not possible given the uncertainties as to what the terms will be, but our recommendation is that clients consider setting up an internal Brexit committee with a mandate to review the impact of Brexit on their business as the details emerge. In particular, the committee would undertake an audit of the key areas of the businesses (the need to access labour, employment policies, the impact on commercial contracts, finance, intellectual property, any litigation and so on), so that issues are identified, and unpleasant surprises (to an extent anyway) avoided.