At this time of year, budgeting becomes an increasing priority and planning for the uncertainty that Brexit negotiations will bring adds further complications. Given the recent legal ruling and ongoing negotiations, we hope that this newsletter with our support at Broadoak, will assist you planning for uncertainty so that you are positioned to move more quickly and are better able to react to any unexpected changes in the business environment than your competitors.
At the time of writing, the High Court has required Parliament to pass legislation before Article 50 can be triggered. While much has already been written on Brexit we will briefly outline what this may mean for the coming year. Presently, the decision is likely to be appealed to the Supreme Court and the decision upheld. MP’s will subsequently vote on the issue.
While a majority of MPs backed the Remain Campaign, it is unlikely that they will wish to set aside the result referendum (advisory or not). Europhile MPs may see this as an opportunity to water down our exit (the so-called “soft-Brexit” option) and the triggering of Article 50 may be delayed beyond March 2017. It may even trigger an early election.
Certainly, nobody really knows what Brexit “looks like”. We do however know that the coming 2-3 years will see business and industry uncertainty and volatile financial markets. The best we can do is to plan for and accommodate this uncertainty.
Through a flexible budget and sensitivity analysis we can show you how to position your business for the medium term. Information truly is power. The better we understand how our business performs financially, the more likely we can identify the correct decisions and ensure we identify any mistakes.
Read full report (pdf) Budgeting for Uncertainty