The Brexit Effect and Managing Risk in International Trade
On 23rd June 2016 the British public voted, by a narrow margin, to leave the EU. Brexit has dominated the headlines since that date, with highly charged debate and discussion about how this should be done and the implications of such an unprecedented move. Whilst every UK citizen will feel the impact in some way or another, many companies are involved in both import and export and/or cross border transactions and will be affected by the UK’s departure from the current trading agreement – whatever form it takes. These companies basically have to ‘carry on with the day job’, whilst also anticipating and trying to plan for longer term global trading activity with so far undetermined trading conditions.
The EU is undoubtedly a significant market for UK businesses (50% of our exports are into the EU), however the IMF predicts that 90% of world growth is likely to come from outside the EU – which brings greater risk.
This course is designed to give you the most up to date position on Brexit and how this might affect your business, and to give you some guidance on how to address issues this may raise. Furthermore, we will explore risk in international trade and how to identify and mitigate this in order to make informed decisions about opportunities for export growth.
By the end of the day, delegates will have a clear understanding of the latest position on the Brexit negotiations, and have had the opportunity to assess how this may impact on both their existing international trade and any future export activity.
Given that many companies will be reviewing their international trade activity at this time, it is logical to take a good look at existing and potential risk: from the traditional PESTLE model to some of the more practical issues. Delegates will be able to understand classification of risk, sources of useful information, and have some practical guidance on how to assess and prioritise these risks when targeting new export markets.
Ultimately, information from this course can then be shared, discussed and developed with colleagues, and any resulting actions can be incorporated into the company’s wider strategic development.
Structure of the Day
9.30am: Introductions and Icebreaker exercise
- What we know about Brexit
- What we don’t know about Brexit
10.45am Coffee break
11.0am How will Brexit potentially impact on your business?
- Customs compliance and declarations
- Commodity Codes
- Trade Agreements
- Rules of Origin
- Export Documentation
- IP, IT and all that jazz
How to prepare as an organisation
1.30pm What is risk in international trade?
- Identification and classification of risk
- What risks do your face in your business?
- The impact of PESTLE
3.00pm Coffee break
3.15pm Risk Roulette
- How to assess and prioritise risk
- Presentation slides
- Workbook including summary notes of key topics and worksheets