By David Lowe
Currently it is unclear what Brexit means and when it will impact. Current credible options include a hard Brexit, a soft Brexit or even no Brexit. Brexit could impact businesses as early as 29 March 2019 (when the UK will leave the EU), or it could take place on 1 January 2021 (if the UK and the EU agree on the proposed transition period) or if the UK and EU agree it could be some other time.
This means businesses need to plan for both a hard Brexit and a soft Brexit – with a hard Brexit presenting the most risk of change to supply chains. Businesses also need to bear in mind that although Brexit has its biggest impact on trade between the UK and the rest of the EU, it will also impact non EU international trade and UK domestic trade.