Entirely Finance

NORTHWEST FINANCE NEWS

Monday March 25 2019


Uncertainty continues for North West businesses as Brexit outcome still unclear




Uncertainty continues for North West businesses as Brexit outcome still unclear

With continued confusion over the Brexit process, financial and business advisors Grant Thornton is urging local businesses to update their contingency plans.

The announcement follows a delay to Brexit with the UK now not expected to leave the EU on 29 March. However, with the final outcome still uncertain, Grant Thornton has outlined the likely next steps to help businesses navigate the coming weeks:

1.    The EU has granted an extension to the Brexit process until the 22 May, conditional on the Prime Minister’s deal being approved by Parliament within the next week. The delay was required because, if accepted, the Withdrawal Agreement needs to be translated into a full Act of Parliament which will take longer.

2.    The third so called ‘meaningful vote’ is expected to take place this week. If approved, the two month extension is likely to cause similar uncertainty experienced in the past three months unless, and until, the agreement is fully incorporated into UK law. A no deal outcome still remains a possibility at the end of the extension.

3.    If the deal is rejected by Parliament, the UK has until 12 April to outline the proposed next steps. MPs may propose alternative solutions, an emergency EU summit could result in a longer delay, or the UK could leave the EU with no agreement in place.

Adam Jackson, head of public affairs and director of Brexit advisory services from Grant Thornton said: “The last few days have seen complete Brexit chaos with disagreements across government and Parliament. The announcement of a delay provides no further clarity for businesses as the list of potential outcomes is widening, not narrowing. Whilst we might slowly start to see some clarity over the next week or two, this is far from certain. In the meantime, businesses need to continue to review and update their contingency plans to ensure they can respond quickly to any changes in the local market or across the wider economy.”

Firms are advised to continue to evolve their response strategies following the latest developments as new information becomes available.

Adam added: “If your business is not yet ready for Brexit then clear your diary, bring your team together and get things moving. it’s not too late! Whatever happens, firms need to be match fit and focus on the basics from retaining staff, monitoring cash flow and removing unnecessary costs. With strong underlying foundations in the local economy, businesses have every reason to be confident if they stay calm, carry on but be prepared for change.”



"If your business is not yet ready for Brexit then clear your diary, bring your team together and get things moving. its not too late! "
Adam Jackson, Head of Public Affairs at Grant Thor








DISCLAIMER: The statements, opinions, views and advice expressed in this article are those of the author/organisation and not of ENTIRELY. This article should represent information correct at the time of publication however whilst every care has been taken to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. ENTIRELY will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within this article or any information accessed through this site. The content of any organisations websites which you link to from ENTIRELY are entirely out of the control of ENTIRELY, and you proceed at your own risk. These links are provided purely for your convenience and do not imply any endorsement of or association with any products, services, content, information or materials offered by or accessible to you at the organisations site.






Discover our Industry Magazines
















Discover our UK Regional Magazines


North West Business News, Jobs and Events | Entirely North West UK
East of England Business News, Jobs and Events | Entirely East England UK
Ireland Business News, Jobs and Events | Entirely Ireland
London Business News, Jobs and Events | Entirely London UK
Midlands Business News, Jobs and Events | Entirely Midlands UK
North East Business News, Jobs and Events | Entirely North East UK
Scotland Business News, Jobs and Events | Entirely Scotland
South East Business News, Jobs and Events | Entirely South East UK
South West Business News, Jobs and Events | Entirely South West UK
Wales Business News, Jobs and Events | Entirely Wales
Yorkshire Business News, Jobs and Events | Entirely Yorkshire UK


Cowgill Holloway

Accountants and business advisors


Cowgill Holloway are a leading independent firm of chartered accountants and business advisors based in the North West, with offices in Bolton, Manchester and Liverpool. Established for over 30 years, and over 140 staff members, we work with all types of businesses. Our entrepreneurial ethos and partner-led approach is tailored to help you achieve your ambitions and financial aspirations.






Sedulo Chartered Certified Accountants


Sedulo is an established firm of accountants, with offices based in Manchester city centre and Cheshire, providing expertise in accountancy solutions and commercial business advisory services.






Crowe Clark Whitehill


With an office in Manchester city centre, Crowe Clark Whitehill is a leading national firm offering audit, tax and advisory service. Michael Jayson heads up the Manchester office.






Moore Accountancy Limited


Moore Accountancy are a proactive firm of Chartered Accountants based in South Manchester working predominantly with Start Ups and Small Business.\r\n\r\nWe work alongside businesses, helping with their tax and accounting needs, leaving business owners with more time and energy to focus on growing their businesses and client base.\r\n\r\nWe Do More Than Just Accounting!






Vernon Building Society

Building Society


Founded in 1924 in Stockport, Cheshire, the Vernon is an independent, mutual building society. We seek to provide competitive mortgages, savings and investment products and to be a trusted source of reliable financial advice within our local community.






RECOMMENDED FOR YOU ON ENTIRELY NORTH WEST