Barry Robinson. Forensic Accountant, Deloitte

Transcription

1 Barry Robinson Forensic Accountant, Deloitte

2 Headline Verdana Bold Brexit A Practical Approach Barry Robinson, Deloitte

3 Contents 1. Brexit impact dimensions 2. Planning considerations 3. Opportunities Short Term Medium / Long Term 210

4 211

5 Brexit Impact dimensions We have identified the following cross sector and industry areas of impact: M ovement of People Market access M a r k e t O p p o r tunitie s 212

6 Are you ready to act? Don t wait and see plan now so that you are effective in your response to changing circumstances Firms should plan their response to Brexit around two planning horizons: Short Term How to appropriately manage and respond to the immediate uncertainty and indirect impacts of Brexit while negotiations take place? Medium / Long Term How to effectively plan and future proof the business for the ultimate exit scenario and the disruptions which result? 2016 Deloitte. All rights reserved 213

7 Are you ready to act? Businesses should: 1. Identify specific risks and opportunities 2. Carry out a robust assessment of the potential Short impact Term 3. Develop an appropriate strategic response and identify future trigger points Medium / Long Term 2016 Deloitte. All rights reserved 214

8 Are you ready to act? Key issues that you can practically consider now include: Customs and duties VAT Short Term Movement of people Currency hedging Supply chain 2016 Deloitte. All rights reserved 215

9 Scenario planning considerations There are a number of factors which will need to be taken into account to understand the extent, nature and scale of impact. What is you exposure to the UK market? Will changes to the business model be required? What should firms be considering in scenario planning? How will you future proof investment decisions Where will opportunities be presented? How will the potential disruptions impact on business strategy and operations? 216

10 5 steps to prepare Activate a Brexit Taskforce Form sectoral groups to tackle industry wide issues Conduct scenario impact assessments to understand potential impact of Brexit Improve internal and external coordination in preparation for a response to Brexit Provide clear communication s internally and externally on Brexit 217

11 Opportunities Businesses can position themselves now to be competitive by considering: Technology Digital Driving innovation and value Diversification Medium / Long Term 2016 Deloitte. All rights reserved 218

12 Action Prepare for maximum change Act now 219

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