In a blog post to our site today we challenged practitioners to look at the risks to business activity post Brexit and what the profession should be offering clients to survive any downturn in activity.
In particular, we discussed how we are all connected, via our own business contacts, to firms that actively trade with the EU; either as importers or exporters.
But is this true? At Informanagement we don’t have to stray far along our degrees of separation as our holding company is Dutch and we regularly exchange goods and services.
What about your contacts? Are you connected by no more than six levels of contacts to companies (clients) that trade with the EU? And if so, should we not be concerned that we seem to be drifting into unknown waters as politicians wrangle over the withdrawal fine print?
It would be interesting to get feedback from everyone – how are you going to be affected by your own or your customers and suppliers supply line issues?
In particular, professional advisors will all have clients that directly or indirectly are involved with EU based concerns, and if the withdrawal process heads towards a no-deal solution what are the challenges we should be addressing with our clients?
From our perspective we will need to produce an impact assessment and consider our options for improving our business fitness. Plans that are underway.
It would be instructive to receive feedback on these matters from practitioners: how are you advising clients?
One think is clear, we cannot rely on politicians to provide the answers, we will have to take responsibility for our own actions to smooth the journey.
Maybe as a group we should pool ideas?