UK-DK Trade: Whatever the deal, consider guidance!

Brexit is dominating the news – not just in the UK, but also in the rest of Europe.

Citizens at the forefront
Countries have introduced or are introducing legislation to provide an extension of citizens’ rights in the absence of a deal.

From January 21, EU citizens living in the UK who meet certain criteria will be able to apply online for ‘settled status’. Similar arrangements are being developed in Denmark.

For businesses, this provides some benefit. Their employees will have a clear legal right to stay in the countries in which they are currently working.  However, we are still no closer to knowing what the post-Brexit relationship will be.

‘No deal’ still a threat
One thing most agree on is that they would like to avoid a ‘no deal’.  Business organisations such as the British Chambers of Commerce and the CBI are lobbying the UK government and opposition politicians to bring some certainty to the table as soon as possible.

At the time of writing there is little sign of light at the end of the tunnel, and all options – including a ‘no deal’, a customs union, Norway, Canada and  second referendum – are still being discussed.

Consider guidance!
Many larger businesses now have contingency plans, but smaller businesses can find the situation overwhelming. My advice to these businesses is not to wait any longer, but to assess their situation and be aware of any actions they might need to make.

Fortunately, many industry bodies and advisors, both in the UK and in Denmark, are producing relevant checklists and guidance that can be a useful first step.

BCCD can point you in the right direction. Just drop us a mail.

Long list of synergies
One important thing for businesses to remember is that change also gives rise to business opportunities. There are still many reasons for Britain and Denmark to do business with each other.

Apart from the obvious synergies that enable Danes and Brits to work together easily, both countries have deep expertise in key industries and technologies that can benefit each other.

There are significant opportunities out there for companies that approach the potential changes creatively. Britain is still open for business, and the UK wants to do business with Denmark.