We’re British, and therefore stereotype dictates that we love to talk about the weather. Who can blame us? In one day we can have high winds, rain, sunshine, and rainbows. It’s a constant battle to know whether or not to pack an umbrella! Right now, weather forecasts are predicting a cold chill to hit the UK, where we’ll see temperatures plummet and have been warned to expect snow. But this week we’ve seen almost spring-like weather, with highs of nine degrees! So, you can understand our obsession with the UK climate, and it begs the question, is this mild weather we’re currently experiencing, the calm before the storm? And how does this link to the Risk Dashboard?!
Well, business climate can also be extreme; with the Article 50 process lasting for two years, and the intention of Britain to leave the EU on 29th March 2019, that’s a little over two months away. Are you 100% confident that your business is prepared? Or is the start of the year already a little calmer than expected? The truth is, no one can be entirely sure what is going to happen when the UK leaves the EU, so to sit back and wait for a potential storm to hit is foolish.
Think about it like this: before you leave for work in the morning, you no doubt check the weather forecast. Imagine it says 50% chance of rain, so you look outside and see grey clouds looming. Not wanting to get caught in the rain, you grab an umbrella on your way out. Better to be safe than sorry, right? Let the Risk Dashboard be your weather report and umbrella!
At the Risk Dashboard, we specialise in identifying, mitigating and reducing business risk. We work with businesses of all sizes to ensure business compliance and encourage business growth. We give you the tools you need to thoroughly investigate your finances, to boost staff training, to evaluate investments, and to ultimately make sound decisions about your company.
So what are potential risks to your company when it comes to Brexit? We highlight two main concerns:
• The Risk of a ‘No-deal’
If this happens, the UK would cut all ties with the EU overnight. And yes, that is just as terrifying as it sounds. It means that the UK wouldn’t have to obey EU laws, instead, we’d follow the World Trade Organisation terms on trade. This could quickly result in new taxes on imports, exports and services, costing businesses money and making prices to consumers go up. Are you prepared for that?
• Unrest in Parliament
We’ve already seen a vote of no confidence in Theresa May, and it’s likely that turbulence within parliament is far from over. To businesses, that means further uncertainty, because who knows what’s going to happen next?
So, don’t let your business get caught in the storm! For more information on how the Risk Dashboard can assist you, visit our website, or please don’t hesitate to contact Neil Campbell, Commercial Director on neil.campbell@riskdashboard.co.uk or info@riskdashboard.co.uk.
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