The UK’s role as a trading nation is going to change significantly as we exit the EU. Are you ready?
Understanding how your business will be impacted and the level of associated risk and opportunity will be critical to being able to manage the changes and ensure the best possible outcome for your business in the new trading environment.
Brexit will impact on all businesses, and most affected will include those that:
It is vital that businesses act now to assess their exposure to Brexit risks against well-informed scenarios, and put in place and implement mitigation plans to reduce risks and seize the opportunities.
Our diagnostic framework maps the trade risk areas that will change under our new relationship with the EU and the rest of the world including through any new trade agreement, customs arrangements and mutual recognition agreements with the EU or 3rd party countries.
We have identified 16 dimensions within three overarching categories that will be impacted, and will create uncertainty to trading businesses. Not all of these will be relevant to all businesses but represent the ‘checklist’ that they should understand for their sector and current operating model.
The framework has been developed by trade policy specialists with experience of negotiating and enforcing trade deals, and implementing trade and customs regimes in other countries.
Our trade risk experts will work with you to identify which of these dimensions will most affect your business, how they affect it, their likelihood and impact, and produce a Brexit trade risk assessment report for your organisation.
We draw on deep specialist expertise across the firm, to further analyse risks and develop and implement mitigation strategies.
Our diagnostic will be grounded in the potential scenarios for the end of the Article 50 negotiations and beyond. A key element of our work will be helping you explore what each of these scenarios could mean for you and your business.
Our work with clients is enabling them to embrace the current uncertainty, plan for a range of scenarios and gain clarity on where the impact of Brexit lies for their organisation and their priorities for the future. For many of our clients, the frameworks we provide are enabling them to make critical decisions now - about investments, location or supply chain - to safeguard their future success.
By opening a dialogue between our clients from all industries, we have started to foster collaboration between government and business, a relationship we believe is critical to our success as a nation as we embark on this new chapter in our trading history.
We are delivering our trade risk diagnostic as part of a number of services to clients, including through Internal Audit, Due Diligence on Deals and portfolio risk assessments.
Senior Trade Adviser, PwC United Kingdom
Tel: +44 (0)7432 340942
Matthew Paul Clark
Head of UK Customs, Excise & International Trade Team, PwC United Kingdom
Tel: +44 (0)7718 339388