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The Brexit transition period has ended.

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Don't forget to adapt your business to the new rules when you trade with the EU.

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To best understand how your business will be affected, ask yourself the right questions.

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There's a new UK border operating model for processing imports and exports.

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Has your business adapted?

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From now on, you'll need both outbound and inbound declarations.

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Decide who's going to declare these.

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Your business, your freight forwarder, or a customs broker.

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How has the deal affected your supply chains?

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Understanding how the agreement affects you

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could help you agree with people in your supply chain

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on any changes to their roles and responsibilities.

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To answer these questions,

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think about your trade cycle when you trade with the EU.

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The trade cycle helps buyers and sellers

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find capital and cash flow issues,

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figure out any funding they need,

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and where there's capacity to explore new opportunities.

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After you agree, a price for goods or services.

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The buyer places the order.

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The buyer gets an invoice,

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then they pay the seller

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and the seller ships the goods.

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Understanding your trade cycle will help you make the most of your capital.

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For more information, contact our specialist team who will support your business trading abroad.

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Visit Barclays.co.uk/business-banking/business-abroad