There are vast Brexit opportunities for business

Companies want an end to the uncertainty, and the Government will do all that it can to support them

October 31 will be a historic day for the United Kingdom – the day we finally act on the will of the people and leave the European Union. As a truly Brexit-backing Business Secretary, my number one priority for the 67 days ahead is to ensure that businesses are well prepared. My message to them is clear: prepare for Brexit, and the superb opportunities that lie ahead will be yours.

One of my first engagements as Secretary of State was to meet with businesses from across the country to talk about the potential for UK growth, jobs and opportunity. I met large manufacturing firms that trade across borders, retailers operating in different markets and innovative small businesses that export their great, British products around the

world. They were overwhelmingly positive about our future.

In Aberdeen I met with a wide range of businesses with varying hopes for Brexit. Some were clear that current EU rules hamper the export of their goods, and that EU membership adds costs to them and their customers. Others had specific questions and concerns about what they need to do to prepare for Brexit.

It’s clear that business wants us to crack on, leave the European Union and end the current uncertainty. But it should also be very reassuring to business to see that the whole machinery of government is stepping up a gear and accelerating the pace of our preparations.

I have been hugely impressed by the work I’ve seen going on here at the Business Department and across Whitehall. More than anything, I want businesses to see a team in the heart of Government that’s helping them to get the best out of Brexit – talking up their trade at every opportunity.

The CBI themselves have recently acknowledged that the extent of the UK’s readiness is high. Many large businesses are well prepared, our financial system is strong, and banks have the capacity to lend. For businesses that still feel unprepared, the Government stands ready to support them and provide clear information and actions to ensure a smooth transition.

Just this past week we removed an administrative burden from businesses, making sure that they can continue to trade with their customers in the EU after Brexit day. We auto-enrolled nearly 90,000 VAT-registered businesses with an essential EORI trading number to enable that to happen.

For those non-VAT registered businesses that we cannot autoenrol, I urge them to come forward and register – the process takes less than 10 minutes and is easy to find on the GOV.UK website.

This comes on top of our long-standing support for small businesses nationwide, with the Government-backed British Business Bank currently supporting over £6.619billion of finance to almost 90,000 smaller companies.

But our efforts will be put to best use if we improve our communications channels, and that’s why the Government will launch an engagement campaign to get the country and business ready for Brexit. It’s also why, in the run up to October 31, I will be meeting with and providing “Top Tips” for Brexit readiness to businesses every week.

The opportunities afforded by Brexit are vast; from artificial intelligence and robotics, to clean tech and the extraordinary potential of life sciences where Britain is a world-leader.

These areas are already great British success stories and Brexit will offer even greater potential for our global leadership.

And as the first major economy to legislate to end our contribution to climate change, we are perfectly positioned to hugely benefit from the global shift to cleaner technology, with one estimate suggesting that annual exports from the UK’s green economy could be worth up to £170 billion by 2030.

I’m truly excited by these opportunities and determined that our Brexit preparations will give businesses the confidence they need to wave the flag for Britain on the world stage.

Brexit is a once-in-a-generation chance. I believe that Britain’s best years for business and for all our people lie ahead.