Danger of a no-deal Brexit 'very real', Lancashire businesses warned by BIBAs sponsor

Norman Tenray, the owner of Longridge-based OBAS UK, said the risk of a no deal Brexit was still “very real” and warned many businesses still did not have the information they needed to prepare for such a scenario.

The British Chambers of Commerce recently published a list of 20 critical questions which remain unanswered around the scenario of the UK leaving the European Union without a deal on March 29.

OBAS UK is sponsoring the Small Business of the Year category at this year’s Be Inspired Business Awards, the BIBAs, which is open for applications for its 20 prize categories.

Mr Tenray said: “The most damaging thing for any business is uncertainty and we have had years of it as a result of Brexit.

“The result is firms holding back on investment, stockpiling and even looking to move operations abroad.But the bigger risk is to those who are waiting for the politicians to sort things out, because they now risk having to make sudden and costly adjustments if a deal is not reached.”

“This lack of clear, precise answers is causing real damage to many businesses who cannot wait any longer.”

Mr Tenray’s comments come as Theresa May admitted she will not get a Brexit deal in time for MPs to hold a “meaningful vote” this week.

Mrs May said she will put her deal to Parliament by March 12 at the latest – just 17 days before Britain is due to leave the EU.

Mr Tenray, a former president of the North & Western Lancashire Chamber of Commerce, is one of the judges who will select the winners of the BIBAs this year.

The awards are looking for judges to put applicants through their paces during the face to face interviews during May.