The Coventry and Warwickshire Chamber of Commerce held the event at the Holiday Inn, off Junction One of the M6, where delegates heard from representatives from Government, international trade advisers and legal experts.
The event was introduced by David Burton, a past president of the Chamber and the chair of its Brexit Club, which was established in the aftermath of the vote to leave the European Union.
He told the audience that many businesses were frustrated by the whole process but that it was important to stay engaged.
David said: “We have tried to keep politics out of it and focus on the issues that affect businesses in our area.
“We haven’t even reached Brexit yet and until we get some kind of agreement, no deal cannot be ruled out. It’s difficult, however, to see another extension if we don’t get an agreement.
“It is still unclear what will happen with the transition period – will that now be extended to 21 months after we reach an agreement? It is important that we get clarity on this and so many other issues.
“Many businesses have made preparations and I suspect that there are a few who are pretty fed up at having warehouses full of goods that they had stocked in the event of Brexit.
“However there are, of course, still too many companies who have not prepared and it’s vitally important that we continue to drive the message home that firms need to look at how they might be affected and seek advice.”
Alessandro Stuart Di Bona, of the Department for Business, Energy and Industrial Strategy, agreed that the ‘Flextension’ did not rule out a No Deal Brexit and said the Government was offering a range of information for business in nine key areas including import/export and employing EU citizens.
David Hooper, of Hooper & Co International Trade, has been briefing since the referendum and said that many of the processes he is advising firms to take will be relevant whatever the outcome of Brexit.
Patrick McCallum, of law firm Wright Hassall, offered an insight into what might change when it comes to contracts with EU clients or suppliers, while his colleague Matthew Davies, gave an update on immigration and the processes businesses – and their staff – will need to take if they employ people from the EU.
Matthew said the Coventry and Warwickshire economy would prove to be resilient – whatever form Brexit takes – and he believes that, ultimately, there will be more immigration once the UK leaves the EU.
James Ahearne, international trade hub manager at the Coventry and Warwickshire Chamber of Commerce, said: “It was another very insightful event and gave businesses lots and lots of information on a range of topics – from customs to contracts and from exporting to employment.
“It is vitally important that businesses use the next few months to understand how the different Brexit scenarios could affect them and plan accordingly. If companies wait until October 31 to see how the Brexit talks play out then for many it will be too late and they could risk serious disruption to their business in the event of a No Deal.
“We don’t claim to have all the answers but we can help companies to scenario plan and, as Matthew Davies pointed out, areas such as getting Settled Status for workers from the EU can be sorted out now as it is something that the Government has given a definitive answer on, whatever Brexit looks like.”
