‘Bristol: get Brexit-ready’

Three Christmases. Two Great British Bake-Offs. One FIFA World Cup. By the time they’ve come and gone another major event will be upon us. And when put in those terms, it’s almost nerve-shredding for businesses to think about how different their trade environment could become by March 2019 and the UK’s expected withdrawal from the European Union.

At an event to mark GetSet for Growth’s one-year anniversary, our guest speaker Tristan Hogg – co-founder of Bristol-based Pieminister – shared his experiences about setting-up the business. His story represented how entrepreneurship and determination can combine as a recipe for success (and pies) and remarked how quickly the 13 years since day one of the business had gone in a flash.

Twenty-eight months is closer than everyone thinks, especially in business planning terms. In the run-up to March 2019, the west’s small and medium sized enterprises (SMEs) should take the opportunity now to get Brexit-ready. Businesses should plan ahead and think what skills, advice and support they need now to avoid a crunch moment in early 2019.

Lots of help is out there for SMEs to get Brexit-ready. For example, the Government’s Regional Growth Fund has funded our GetSet for Growth business support service. We supported more than 450 local businesses to raise some £1.5 million and create 100 jobs in our first year through workshops, mentoring and masterclasses in everything from accessing finance to marketing and exporting.

Due to the wider impact on business decision-making as a result of June’s referendum result, we are now seeing a shift in the support businesses are approaching us for as a result of Brexit.

For instance, more managers and entrepreneurs are coming to us with support requirements to help them with plans to capitalise upon the weaker pound and export their goods to new markets. Our recent workshop with UK Trade and Investment highlighted the cultural, logistical and legal challenges of exporting.

The action needed by future entrants to the export market could not take place overnight – businesses require months, or even years to prepare themselves. There are similar examples across the business growth strategy spectrum, like financial planning and marketing, that take time to set a course for.

We’ve applied this principle at GetSet for Growth to plan ahead for more and more businesses approaching us. As our next step, by July 2017, we aim to have helped around 700 businesses in the West to support them to create a further 120 new jobs and access to £1m of finance to underpin their growth ambitions.

Our message to business is clear. The clock is already ticking. It’s not too early for businesses to plan to become Brexit-ready and they should remember the commitment required to train and organise to achieve their goals. And who knows, maybe their success will mirror the England football team’s forthcoming triumph at Russia 2018!

Phil Stott is project director for business support service, GetSet for Growth – West of England