This latest initiative by the government aims to show the country can leave the European Union without a deal if required.

Over 88,000 companies on Britain’s VAT register will be supplied with an Economic Operator Registration and Identification (EORI) number over the next fortnight, according to the finance ministry on Wednesday.

Up to now, 72,000 businesses have enrolled for EORI numbers, identifying them for customs authorities.

According to finance minister Sajid Javid: “As the government accelerates its preparation to leave the EU on October 31, it’s right businesses are prepared too.”

“This will help ease the flow of goods at border points and support businesses to trade and grow.”

Reuters reports a group representing small businesses welcomed the government’s initiative, but stated firms also urgently needed tax measures to enhance cash flow and adjust to any new trading conditions as from November 1.

Mike Cherry, chairman of the Federation of Small Businesses, said: “If the nightmare of a chaotic no-deal Brexit on October 31 becomes a reality, our small traders will be the first ones off the cliff.”

In the past, the Federation of Small Businesses and the Confederation of British Industry have pressed the government to automatically allocate Economic Operator Registration and Identification numbers to companies.

Prime Minister Boris Johnson has stated he wants Britain to depart the European Union with a deal, but that he is ready for a no-deal Brexit should the EU not renegotiate the deal reached with former PM Theresa May.

Mark Carney, the governor of the Bank of England has cautioned that numerous firms are not prepared for the shock of a no-deal Brexit, thereby fuelling the risks of a shock for the economy.

The Prime Minister plans to increase the support available for customs agents to train new employees or invest more funds in technology to assist businesses in completing customs declarations.

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