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Gloucestershire Business News

Directors say they are not ready for Brexit

The Government has launched an information campaign urging businesses to prepare for the end of the Brexit transition period - amid a report saying three in four firms are unprepared for fully leaving the EU.

With the Brexit transition period due to end on December 31, the Government has launched the campaign entitled "The UK's New Start: Let's Get Going".

Cabinet Minister Michael Gove said divisions remained between the two signs as they work to agree a trade deal.

And the Institute of Directors has warned its members are ready for the switch with manufacturing firms the most likely to be unprepared.

A poll 1,000 company directors by the organisation said almost half felt they were unable to prepare for the end of the transition period, almost a third saying they could only make the necessary adjustments once details had become clear.

And 69 per cent said securing a trade deal rather than leaving without one was important for their company.

The institute's director general Jonathan Geldart said: "With so much going on, many directors feel that preparing for Brexit proper is like trying to hit a moving target.

"Jumping immediately into whatever comes next would be a nightmare for many businesses."

He continued: "A commitment to some form of reciprocal phasing-in of changes once clear is a long-standing ask from our members, and the benefits would be significant.

"At a time when government is rightly straining every sinew to help firms deal with widespread disruption, it would be counterproductive not to seek to minimise it at the end of the year."

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