Start-ups must take these 5 steps to thrive post-Brexit

Export Expert Jennifer Robson has 5 top tips for UK start-ups who are concerned about the impact of Brexit on their business.

Says Robson: “UK start-ups need to realise that there is a lot of business to be had outside of the EU, so they don’t need to panic. The Middle East and Asia are hungry for UK trade as are parts of Africa and South America.

These markets may at first seem daunting particularly to start-ups that have not previously exported. But it’s not as difficult as it first appears, and I have developed my 5 steps to export success to make it easy.”

The 5 steps to post-Brexit Success:

Step 1: Introduce scenario strategising into your business and actively plan for each Brexit possibility. (Jennifer offers start-ups a list of scenarios.)

Step 2: Export with purpose not by accident. Do your research, be strategic about which markets will maximize your opportunity to succeed. Make sure this is aligned with your capacity and resources – you don’t want to undermine your UK business in pursuit of overseas gains.

Step 3: Identify your fears linked to both Brexit and Exporting and generate a plan to overcome them.

Step 4: Don’t be overly concerned with what your competitor is doing. Focus on your own business and develop the most effective business model.

Step 5: Surround yourself with experts, now is the time to know your freight forwarder, your currency management team, your lawyer and your accountant.  Renew your chamber of commerce membership. These teams will help you stay up to date with relevant information and be compliant as you deal with Brexit.