Things to think about before Brexit

If you haven’t already thought about it there are some things that you will need to do to prepare your business for Brexit.

Especially if you:

  • import or export goods or services to the EU,
  • exchange personal data (including customers’ addresses, staff working hours or information you give to a delivery company) with an organisation in Europe (this includes using websites or services hosted in Europe & processing personal data from Europe), or
  • you use or rely on intellectual property (IP) protection (this includes copyright, trademarks and patents).

There is a useful step by step guide at https://www.gov.uk/get-ready-brexit-check

Respond to regulatory regimes

The regulators’ purpose is to ensure there is a level playing field and protect the weaker party in any transaction (which is usually the client/customer).

If a regulator has cause to investigate a business, they will try to demonstrate insufficient control over business processes.

It makes sense to be in a position to show that you have done everything possible to comply and that you carry out checks to make sure that your procedures work.

That way the regulator will be more likely to help resolve compliance failures, rather than take enforcement action which can prove costly for a business.