Following the Government’s recent defeat in the House of Commons on the proposed Brexit deal, the prospect of a ‘no deal’ Brexit is now becoming increasingly real. Whatever the outcome of the ongoing discussions, the short time frame between now and the 29 March deadline increases the urgency for businesses to review the potential impact on their organisation and to take contingency steps where necessary.
In many ways their planning should be no different to other business decisions; it is essentially about managing risk. All business owners have to plan for the unknown. Brexit is certainly full of unknowns, but that is no reason why managers can’t take steps to reduce the risk. The key is to do things that have the biggest potential benefit for the lowest cost.