Readiness for Brexit
Like all UK organisations, The Myers-Briggs Company Limited is facing some uncertainties in terms of the UK exiting the EU and the outcome of the UK-EU Brexit negotiations. Having evaluated our risk exposure and considered any plans for mitigation, we continue to prepare for the possibility that there may be no Brexit deal agreed between the UK and EU parliaments by 31st October 2019. Referred to as a “no deal” Brexit, this would mean there would be no transition period and the UK would need to look to World Trade Organisation Rules, and associated trade and supply chain constraints would thereafter apply.
The readiness for Brexit of our business and that of our suppliers is important to our business continuity and we are therefore in the process of discussing the implications of a no deal scenario with our key suppliers to ensure that we are aware of any issues that we may face. Whilst we hope that a Brexit deal will be agreed, for the purposes of our business planning, we are assuming a no deal scenario.
Whilst we do not anticipate a material impact on our business and operations or a material increase to costs as a result of Brexit, including in a no deal scenario, we are working on our Brexit plan to include measures such as:
- ensuring our readiness for EU/ UK import/ export requirements, where previously our supply of goods would have simply been intra-EU movements;
- proactively supporting our workforce, particularly EU nationals working in the UK;
- ensuring our data protection processes remain compliant with UK and EU data protection laws; and
- ensuring our suppliers are generally able to continue to meet their existing contractual and service level obligations to us.
We would note that the majority of our business transactions with customers are undertaken via our online platform and these therefore will be unaffected by a no deal scenario.
If you have any questions regarding our business preparedness for Brexit, please do contact us on email@example.com.
Chief Financial and Administrative Officer
The Myers-Briggs Company Limited
15-17 Elsfield Way
Oxford OX2 8EP
T: + 44 1865 404500