We have, of course, been following the news on the morning of Thursday 15^th November 2018, and the release of John Lewis’ Christmas advert today has been overshadowed by the release of the 585 page Brexit withdrawal agreement. Whilst Christmas is well and truly only around the corner, this new Brexit document is a hugely significant step towards negotiations with the EU, and holds particular significance when it comes to business.

What is the Brexit withdrawal agreement?

In a nutshell, the document seems to have solved the problem of an insurance policy to prevent a hard border in Northern Ireland, as well as suggesting that the UK would need to sign up to several areas of EU law – including environmental protection and social protection. It’s said to contain plenty of optimistic language around building a relationship with the European Union, although it has already caused plenty of issues in Parliament.

Already this morning we have seen Brexit Secretary Dominic Raab resign, closely followed by Works and Pensions Secretary Esther McVey. Many others are calling for a vote of no confidence in May in the next couple of weeks. Without a doubt, this is a tense time in British politics and we expect May is feeling the pressure!

So how could the Risk Dashboard have helped May?

There are a few modules that spring to mind that could have helped Theresa May navigate through this tricky period as PM.

1. Human Resources – Having so many people resign in just one day is hugely stressful for any business, and having processes in place to ensure the continuity in a business when people resign will not only help things carry on as ‘normal’ but hopefully prevent a ‘mass walkout’ in the first place.
2. Business Continuity – this module is often referred to as ‘just common sense’. It looks at how decisions could affect operations, implementing safeguards, and procedures to mitigate risk and reviewing processes to ensure they’re up to date.
3. Finance – The heart of good finance sits within the Risk Dashboard software, and with so much talk about the budget, May could perhaps benefit from our finance module too.

What about your business?

Times are about to change in the UK, for the better or perhaps, for the worse. Exchange rates are already changing, with Pound Sterling already falling against the Dollar this morning in line with the resignations of key personnel within parliament. There’s no doubt that ‘risk’ is going to be a word thrown around in the media and amongst business owners… and it’s that risk we can help you manage. Whether it’s to do with investments, exchange rates, your staff, or even travel within the EU, we can help prepare you for what’s to come.

If you have any questions, please don’t hesitate to get in touch with Neil Campbell, Commercial Director, on neil.campbell@riskdashboard.co.uk or info@riskdashboard.co.uk. We look forward to hearing from you.

For all those wanting to temporarily ignore current politics and instead focus on something a little more festive, the John Lewis Christmas advert, released today, can be found here.

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