The United Kingdom (UK) will soon leave the European Union (EU) and while it remains uncertain exactly how this will take place, what is clear is that the clock is ticking and now is the time for businesses to act.
Organisations that want to manage downside risk whilst making the most of any opportunities BREXIT brings will need to rapidly deal with unprecedented levels of change and ambiguity alongside continuing business as usual activities to ensure they are fully prepared in all scenarios.
Intensifying Government Preparations
The UK triggered Article 50 of the Treaty of the EU on 29 March 2017 which will see the UK exit the EU at 11pm GMT on 31 October 2019 (further government information is available at https://www.gov.uk/government/brexit).
The UK is therefore intensifying preparations for a scenario where there is no UK-EU agreement in place on exit day and the British Government is recommending businesses now also ensure they are prepared and enact their own no deal plans in case this scenario takes place.
Businesses need to take action
How businesses respond to BREXIT and the decisions executives make now will be defining, it may ultimately make or break businesses. So whilst the politicians still have some debating and negotiating to do, it will be down to the executives of UK businesses to provide clear leadership while making some hard decisions of their own to land on the right side of this monumental disruption.
Some businesses might have plans and be ready to hit the big red button any day now. The priority for these companies has got to be finding the right people internally to make the changes happen or, given the time constraints, bring in external resources to plug the gap to deliver the transformation.
For companies without a serious plan, it would be wise to seek help to establish what changes they need to make and then act upon them. Urgently.
It will be vital to get to grips with the array of practicalities for the UK’s departure and then take swift proactive measures, which seek to address stakeholders, customers, staff and partners, and the appropriate communications they will need in place prior to enacting their plans through to implementing changes to operating models, business processes, policies and technology.
Servita is providing practical support that enables organisations to leverage our business and transformation expertise to provide rapid hands-on support. It’s this delivery focus that will be invaluable as we provide organisations with the additional capacity and capability they need to quickly and effectively deliver the practical changes required to make the most of the UK’s departure from the EU while managing and mitigating downside risk. The clock is ticking.
For more information contact us on +44 20 7698 2741
Written by: Adam Warmington, Principal Consultant