Why Companies Need Due Diligence For Brexit BCL158

Why Companies Need Due Diligence For Brexit

Why Companies Need Due Diligence For Brexit. The vote to leave the EU and the imminent triggering of Article 50 has many implications for UK businesses.Trying to predict the legislative landscape post- Brexit just isn’t possible at this stage. However, what is clear is that you need to start your due diligence now and put risk management procedures in place to ensure that you are fully prepared for any changes that may result from the UK governments negotiations.

Inevitably our exit from the EU will bring about changes in our underlying law and, although there is no certainty as to what those changes may be, companies need to undertake proactive due diligence on their future commercial dealings now to ensure that they are in a position to seamlessly take advantage of the opportunities ahead.

Companies need to identify and analyse their current long term contracts to ensure, for example, that intended obligations are not affected.

You need to have an awareness of how much of your current business set up is reliant on the EU and how you may need to re-structure your business to accommodate any changes. Advance preparation for the possible cost implications is vital so that they are not a “big hit” in 2019

Our guest on today’s programme is Linda Bazant Lawyer and Post Brexit Advisor. Linda assists businesses to prepare for the UK’s exit from the EU in 2019

This edition of Business Connections Live will be a valuable insight into why a “wait and see” approach could be detrimental to your business. You need to prepare and do your due diligence now!

On this edition of Business Connections Live, Linda will explain:

• The importance of preparing for uncertainty after the triggering of Article 50
• The need to review all existing contracts in readiness for 2019
• The possible effect of Brexit on employees immigration status
• The effect of GDPR General Data Protection Regulation May 2018
• The cost of compliance with new laws that may come into effect and who will pick up that cost.
• The challenges and opportunities for UK business

Learn the business fundamentals on how your business can achieve:

• Readiness for the opportunities in 2019
• Compliance with GDPR prior to enforcement in2018
• Full preparation for any changes of legislation that may result from the outcome of the governments negotiations
• An awareness of how your current business set up is reliant on the EU and how you may need to re-structure your business to accommodate change
• An awareness that, although there is a 2-year timetable after the triggering of Article 50, a “wait and see” approach could be detrimental to your business. You need to prepare now!
• Advance preparation for the possible cost implications so that they are not a “big hit” in 2019

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