UK companies aren't prepared for life after Brexit, British Chambers of Commerce says

Only about half of the firms surveyed had taken the steps recommended by the government to prepare for changes.
Only about half of the firms surveyed had taken the steps recommended by the government to prepare for changes.PHOTO: REUTERS

LONDON (BLOOMBERG) - UK companies aren't preparing for the next stage of Brexit and the government needs to do more to help them, the British Chambers of Commerce said.

Only about half of the firms in a BCC survey had taken the steps recommended by the government to prepare for changes when the UK drops out of the single market at the end of the year.

Just 38 per cent have completed a Brexit risk assessment this year, compared with 57 per cent in 2019.

The lack of preparation may affect customs declarations and could lead to significant disruptions for UK customers and suppliers.

Helping firms through the transition is vital to support companies that are already facing reduced demand due to government restrictions to contain the coronavirus pandemic.

"The government must ramp up engagement with businesses urgently to ensure that the real-world issues facing firms get tackled immediately," BCC Director-General Adam Marshall said.