The speculation is over and the decision has been made to leave the EU. Now we have a new prime minister and the dust has settled, it is probably time for you to try and assess how this is going to affect your business.

BrexitMost commentators agree that we are going to go through a period of economic uncertainty; the recent currency fluctuations are already starting to have an impact and will probably affect us all one way or another.

The effect of these changes will increase the cost of imports so we can expect to see rises in the machinery and technical equipment (mostly imported), needed for our businesses such as industrial machines and computer hardware and software.

Industries that are expected to be most affected are construction, financial services and manufacturing.

ISO standards and Brexit
Many of our clients will be affected by the economic changes brought on by Brexit, some positively, others negatively. Cheaper exports for those companies selling abroad may help to balance the increase in costs.

With all of this uncertainty it is good to know that some things will remain constant.  ISO standards such as ISO 9001 and ISO 14001 will remain effective and provide the same benefits during the transition to leave the EU and when we finally leave. ISO accreditation is international and the EU often adopts the ISO standard as the European Standard.

Any changes to this stability will depend on our new relationship with the EU. At the moment we have some influence over European standards which means that our manufacturing and service industries have easy access to sell products and services to all European countries by meeting these standards.
Currently our manufacturers save time and cost by only having to comply with one standard to trade with European and global markets.

We can only assume that the UK will remain committed to the European standards to allow our businesses to maintain ease of access, even though our influence over the standards may be diminished.