IN conversations about Brexit over the past two years, I’ve often said that things turn out best for those who make the best of the way things turn out. The problem facing businesses is that with fewer than 200 days to go until we leave the European Union, we’re still none-the-wiser as to how things are going to turn out.

A survey published by the Chamber this week finds that 40 per cent of business people in the North East feel their business is underprepared for Brexit, with the cost of trade, changes to standards and regulations and changes to EU funding topping the list of concerns.

This is hardly surprising given the startling lack of clarity we continue to experience on these fundamental issues. Our survey also placed Government fifth on the list of sources of information about Brexit, behind trade associations, solicitors and accountants, with the Chamber itself the most trusted source.

Since the referendum, we’ve been working hard to help businesses prepare, working with Chamber Partners Square One Law on a Brexit Ready Supply Chains report, publishing a Business Brexit Checklist, as well as providing regular updates on the progress of negotiations. We’ve also strengthened our team of international trade specialists to allow us to provide even more advice tailored to individual businesses, in particular around exporting and customs.

The Government’s most recent attempt at reassuring business, in the form of a series of technical guidance notices outlining planning for a No Deal scenario, makes the need for this kind of support clear.

One note, outlining trade of goods with the EU, took just 91 words to describe the current arrangements for a British firm trading into Europe but needed well over 2,000 words to describe what a No Deal trading relationship would look like.

That step-change in complexity is repeated across a whole range of topics, including travelling in the EU, driving in the EU, meeting regulations, labelling products, personal data and medicines.

With that kind of additional burden on the region’s businesses, it’s no surprise that in our survey 80 per cent of those who felt Brexit would have an impact on their business felt it would be a negative one. Amidst all the uncertainty, there is one thing that’s clear – unless Government moves swiftly, decisively and works with organisations like the Chamber to help businesses prepare, the outcome definitely will be a negative one.

  • James Ramsbotham is chief executive of North East England Chamber of Commerce