The French government has told companies to begin preparing for all Brexit scenarios, including no deal between the EU and the UK.
At a closed-door meeting at the French Ministry of Finance on Tuesday evening, French Secretary of State Agnes Pannier-Runacher recommended that business leaders start identifying measures to limit the impact of Brexit and begin alerting their suppliers.
France hopes EU negotiator Michel Barnier’s efforts to reach a deal will be successful, but “there’s little time left to conclude the negotiations and ratify the agreement,” Pannier-Runacher said, according to a statement from the ministry. “It is therefore our collective responsibility to prepare for all eventualities, including a no-deal Brexit.”
The French government is particularly concerned that small businesses are not prepared for Brexit, while large companies have long had contingency plans in place.
About a quarter of France’s 120,000 exporters ship goods to the UK and customers of British service providers could also be affected.
The administration has set up a telephone hotline and e-mail address for businesses to seek advice on how to prepare.
Still, the French government has no estimation of the potential costs to businesses and has not pledged any financial aide for struggling companies, according to the ministry.
In a booklet distributed at the meeting, the French government listed examples of measures companies might need to take after assessing their exposure and depending on how Brexit talks proceed.
They include: Contact British and French authorities to get information on how to ensure mobility of employees; diversify suppliers and adapt distribution to take into account new customs procedures; renegotiate contracts with UK suppliers to allow for customs duties; repatriate activities to the EU, depending on sectors; change intellectual property rights to designate the UK as a separate entity; repatriate personal data stocked in Britain and check where suppliers process or stock data; and request transfer of financial contracts to entities in the EU.
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