As a truly global and European bank, we are encouraging clients to discuss business implications, so that we can help them to continue to thrive post Brexit.
Our interactive pdf summarises the key dates, top considerations and five steps to Brexit readiness.
Get your business Brexit-ready.Download our interactive PDF (476KB)
HSBC brought together a trio of its trade finance experts from across Europe to discuss the potential impact of Brexit on the financial supply chain and how innovation and finance are changing the trade finance industry. They discuss opportunities including the convergence of the physical and financial supply chain marketplaces into one ecosystem, big data and moving to paper-less systems.
'While much uncertainty remains, the potential transition period is widely seen as good news by businesses' according to HSBC's top trade finance team who were brought together to discuss what a Brexit transition period could look like for businesses in different sectors and what businesses should be thinking about now – especially around their supply chain.
What's on the horizon for the UK economy?
There is a range of possible outcomes, but they can broadly fall into 3 scenarios.
- Soft Brexit: The UK seeks full access to the single market while enforcing freedom of movement for people
- Hard Brexit: The trade talks fall apart or the negotiated deal fails to pass. The UK exits the single market and the customs union in 2019
- Creative Brexit1: 2-year 'status quo' transition deal before applying the result of the negotiations. The UK exits the single market and the customs union in 2021
1. 'Creative Brexit' refers to the potential outcome of a negotiated settlement between a 'Hard' and a 'Soft' Brexit, but different in nature to existing agreements between the EU and non-EU states."
First and foremost at HSBC we’re ready to ensure business continuity for our clients. And this is where the Brexit working group comes in. By getting everyone in the organisation round a table early you can unearth impacts that might not at first seem obvious
Throughout Brexit, we'll keep your focus on the next move forward.
Through evolving times for Europe, Clients can rely on HSBC for continuity, stability and support for your business. Whatever Brexit scenario unfolds, our well-established UK and European Economic Area (EEA) network will mean the minimum of disruption for businesses.