"Act now": Government urges businesses to prepare for EU exit

The government is today urging businesses to take action ahead of the UK’s exit from the European Union.

During the remainder of the transition period, which will end on January 1, businesses are advised to check their status with the government to ensure that they are prepared for the change.

The terms of the exit, which is 81 days away, are still being negotiated with other members of the EU.

The government has said that the UK will potentially leave the EU with an “Australia-style” deal - which would mean that trading would operate under World Trading Organisation (WTO) rules.

Business secretary Alok Sharma commented: “With just 81 days until the end of the transition period, businesses must act now to ensure they are ready for the UK’s new start come January.

“There will be no extension to the transition period, so there is no time to waste.

“I urge all businesses across the country to check gov.uk to see what action they need to take, sign up for updates, or attend one of our sector-specific webinars.

“Businesses have a crucial role to play in ensuring a smooth transition, and we will be there to support them through this change every step of the way.”