We will leave the EU on 31 October. Thousands of businesses of all sizes across the UK have been making preparations, and the government has been working closely with them to ensure that they’re ready.
Funding for businesses:
- We recently announced £108 million of funding to promote and support businesses as they prepare for Brexit and this includes a national programme of business readiness.
- There’s also an additional £10 million ‘Brexit Readiness Fund’ available to business groups and trade associations to help them to help businesses prepare.
- We are directly supporting small and medium-sized businesses (SMEs), making a further £1.3 billion available to lenders in guarantee schemes - via the government-owned British Business Bank. This will help to facilitate lending to viable SMEs, almost 90,000 of whom are already accessing more than £6.6 billion of finance, supported by the British Business Bank.
- This is in tandem with the formation of a new Business Finance Council, made up of senior representatives from the UK’s leading banks and alternative lenders, and co-chaired by the Business Secretary and the Economic Secretary to the Treasury. The council will identify and address any barriers faced by small and mid-sized businesses in securing the finance and investment they need.
Information for businesses:
- We launched a high-impact public information campaign setting out what businesses and the public need to know, and do, to prepare.
- The campaign includes substantial advertising accompanied with targeted road shows and events, directing businesses to GOV.UK to get the information that they need to prepare. There are now ‘how to’ videos and step-by-step guides - so whether you are a small business owner, haulier or EU citizen residing in the UK - the actions you need to take to prepare will be clear and simple.
- Free nationwide government events, leading up to 31 October, have been launched, offering local businesses tailored advice and support, as well as access to advisers from a range of government departments.
- The Brexit Business Readiness Events will combine keynote addresses from senior government officials, advice stands and in-depth information sessions. Businesses will be able to access advice on issues such as:
- the importing and exporting of goods
- exporting services
- employing EU citizens
- businesses that transfer data
- the extra support available in the local area.
- For those businesses that trade with the EU, the government has removed a key administrative burden, by auto-enrolling nearly 90,000 VAT-registered businesses with an essential Economic Operators Registration and Identification (EORI) trading number.
- We created Transitional Simplified Procedures (TSP) for businesses importing from the EU.
- We are phasing in Entry Summary Declarations for imports from the EU.