Companies urged to take transition action NOW
The Hub News Team | 18.12.20
Businesses across the Marches were today told time is running out for them to make sure they comply with the new legislation coming into effect as the EU transition period comes to an end.
The Marches Growth Hub says every business in the region will be affected in some way by the changes which take effect at 11pm on December 31 and is urging businesses to take action now.
Yasmin Sulaman, Marches Growth Hub business support lead, said the hub had collated all the Government advice – and a series of toolkits and guides – on its website to make things as straightforward as possible.
"The changes which will come into force at the end of the transition period will have an impact on just about every business in Herefordshire, Shropshire and Telford & Wrekin in one way or another.
"It is particularly important that small and medium sized enterprises (SMEs) are prepared as they employ nearly half of the UK workforce and their turnover represents about a third of our GDP.
"The pandemic will undoubtedly have affected the way many businesses have been able to prepare, but with less than a month to go it is absolutely essential that all businesses review what the changes might mean for them and take the necessary action.
"All the information you will need, a number of toolkits which can give personalised advice for your business and the latest news from Government can all be found on our website at https://www.marchesgrowthhub.co.uk/advice-and-support/eu-exit-advice-for-businesses/"
Businesses will have to make a number of changes to ensure continued flow of people, data, goods and services between the UK and the EU.
Significant changes include:
· If you sell goods to the EU you must prepare for new customs procedures.
· If you travel to the EU for work purposes, you will need to check if you need a visa or work permit and apply if necessary.
· If you employ overseas nationals, you will need to prepare your business for the implementation of the new immigration system.
· If you are a UK business or organisation that receives personal data from contacts in the EEA, you may need to take extra steps to ensure that the data can continue to flow legally at the end of the Transition Period.
· If you provide services in the EU, you must ensure that your qualifications are now recognised by EU regulations to be able to practice or service clients in the EU.
Yasmin added: "Whilst many businesses would have been preparing for the end of the transition period since last year, we recognise the impact Covid-19 will have had on their ability to plan ahead.
"However, these changes will come into force on January 1, 2021 as a matter of law and it essential we take action now to comply with the new trading conditions."