At her first Tory Party conference as Prime Minister, Theresa May has announced that the UK is to begin the formal Brexit negotiation with EU leaders before the end of March 2017. The triggering of Article 50 of the Lisbon Treaty will mean the start of a two-year countdown during which time a withdrawal deal with the EU must be agreed.
Commenting on the announcement, where most questions were left unanswered about what form the UK’s extraction from the EU will take, Confederation of British Industry (CBI) Director-General Carolyn Fairbairn said: “The Prime Minister has removed one big question – on timing – but has accelerated an urgent need for answers on others … Businesses cannot continue to operate in the dark in other areas.”
Whist the timings have now been announced, the opportunities, threats and implications for small and medium sized businesses (SMEs), the backbone of the UK economy, are all critical questions which remain to be addressed.
Our Beavis Morgan Brexit Planning Team continues to assist clients in ensuring that the measures they implement now will put their business in the strongest position for the future, despite the challenges which Brexit may bring as we enter this new era in Britain’s history.
If you are concerned about the effects of Brexit, please contact your usual Beavis Morgan Partner or a member of our Brexit Planning Team to discuss the issues, changes and potential challenges relevant to you or your business: