Readiness for Brexit.
As you’ll be aware, the UK leaves the EU on 31st January 2020 and then enters into an implementation period to 31st December 2020 in which transitional arrangements apply whilst negotiations take place regarding various final trade and other arrangements. Like all UK organisations, The Myers-Briggs Company Limited faces some uncertainties in terms of the outcome of the UK-EU trade and other negotiations.
Therefore, for the purposes of our business planning, we continue to prepare for the possibility of a no-deal Brexit scenario (where we have exited the EU on 31st January 2020 but have not agreed all trade and other arrangements before the end of the transition period on 31st December 2020 and no transition period extension is agreed). This could mean 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 therefore continue to discuss 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 final trade and other arrangements will be agreed and effected by 31st December 2020, for the purposes of our business planning, we are still considering the possibility of 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 Brexit.
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