Why Brexit numbers don't add up

How ready are UK business for a no-deal Brexit? Not very. You see, British businesses trading with the EU will definitely need an Economic Operator Registration and Identification (EORI) number to continue trading if the UK leaves the EU absolutely deal-less.

EORI number registration is pretty much the most basic preparation a British company would need to be ready for that no-deal scenario. Which means registration is a pretty indicator of general readiness.

Currently, there have been 40,000 registrations for an EORI number, according to government statistics. The estimate of EU-only trading businesses in the UK would be around 240,000. Oops.

It takes three days to get an EORI number. However, HM Revenue & Customs warns it could take longer if, for any reason, there is a high volume of applicants.

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