Following recent developments in Parliament, the risk that the UK will leave the EU on 31 October 2019 without a deal has now diminished. However, given the Government’s determination to respect the result of 2016’s referendum, it is still important for businesses to prepare for the possibility of leaving the EU without a deal at a future point.
In order to help businesses be as prepared as possible, the Government announced the creation of the Brexit Business Readiness Fund on August 29. The fund is available to business organisations and trade associations in the UK to support their members and the many businesses in the sectors they each represent to prepare for Brexit. All activity supported by the fund must be completed by October 31.
We made the decision to apply for the funding and run an industry-wide advertorial campaign to help businesses understand the many, complex issues involved and, in the process save time and money by providing free, practical advice.
Brexit will have widespread implications for advertising across key areas, including data, trade and talent. The objective of our new campaign is to ensure the UK’s advertising industry is clear on the priority areas they need to get ready for and understand where they can get more information. The outlets we are working with to share information on Brexit with the advertising industry are Campaign, Digiday, The Drum, Little Black Book (in three parts – European Temporary Leave to Remain, the EU Settlement Scheme and Temporary Exports) , Marketing Week, and Mediatel Newsline.
The purpose is to focus on directly relevant information, filtered from the main Government advice by our team of specialists. In the circumstances of a no-deal Brexit, it is crucial that businesses across the advertising industry prepare themselves to have the right mechanisms in place so that their EU/EEA colleagues gain the correct residency status; that they can trade as freely and with as little hindrance as possible; and that the data that keeps the advertising industry working effectively can keep flowing.
The need for this information campaign is supported by research conducted among AA members during September 2019 by UK advertising think tank, Credos. The research shows only 23% of our industry felt even moderately prepared for Brexit, leaving more than 40% minimally prepared or not at all. The research reveals businesses’ need for more information, if not from Government, then from industry bodies. Supplying this advice and guidance will provide greater confidence for investment decisions in the months ahead.
The Advertising Association has created a bank of information and advice where you can find this information – we urge you to view it to see how your business might be affected. Click here for more information.