{"id":28724,"date":"2020-12-16T13:39:11","date_gmt":"2020-12-16T12:39:11","guid":{"rendered":"http:\/\/videoweek.com\/?p=28724"},"modified":"2021-01-19T12:28:24","modified_gmt":"2021-01-19T11:28:24","slug":"how-should-the-advertising-industry-prepare-for-brexit","status":"publish","type":"post","link":"https:\/\/videoweek.com\/2020\/12\/16\/how-should-the-advertising-industry-prepare-for-brexit\/","title":{"rendered":"How Should the Advertising Industry Prepare for Brexit?"},"content":{"rendered":"

\"\"<\/a>The global pandemic has put the UK\u2019s departure from the EU on the backburner for most of the year. But as the end of the transition period on December 31st approaches, the issue has come back to the forefront. And with no trade deal yet secured, there\u2019s still a lot of uncertainty for the advertising and media industries around how their businesses will be affected at the start of next year.<\/span><\/p>\n

Nonetheless, there are steps businesses can take to best prepare themselves for January 1st, despite continued uncertainty over whether a deal will be reached or not.<\/span><\/p>\n

What changes on January 1st?<\/b><\/p>\n

The transition period has allowed trade between the EU and UK to continue as normal, with the UK remaining within the EU\u2019s customs union and single market as UK Prime Minister Boris Johnson attempts to secure a last minute deal in time for January 1st, 2021.<\/span><\/p>\n

When <\/span>VAN looked at Brexit\u2019s impact<\/span><\/a> on the advertising and media industries back in February, it was assumed that by this point either a deal would have been reached, or both sides would have agreed a deal was not possible and we\u2019d be preparing for a no-deal scenario.<\/span><\/p>\n

Neither of those are true. Deadlines to reach a deal have been repeatedly missed, not helped\u00a0 by the need for both sides to spend their time and attention on tackling the pandemic. But in each case these deadlines have been extended in the hopes that an agreement could be reached.<\/span><\/p>\n

The deadline cannot be stretched beyond December 31st. So either the UK and the EU reach a deal to set the terms of trade between the two at that point, or trade is governed by rules set by the World Trade Organisation (WTO).<\/span><\/p>\n

How can businesses prepare?<\/b><\/p>\n

This uncertainty around how the UK\u2019s relationship with the EU will look from January 1st makes it difficult to prepare, but there are still steps businesses in the media and advertising industries can be taking now.<\/span><\/p>\n

The British government\u2019s support site lays out the basics, to help ensure business can still run in a no-deal scenario. These include:<\/span><\/p>\n