UK businesses get ready to trigger Brexit contingency plans
The Confederation of British Industry (CBI) Chief Carolyn Fairbairn, last month highlighted the need for urgency in Brexit negotiations. She stated that there was “extra urgency” required for trade talks and transition talks to begin before the year-end. She went on to discuss the “cliff edge” facing businesses in the UK and their need to address it.
Fast forward one month. The CBI Chief told the BBC that a CBI survey found that 10% of companies had already activated their contingency plans. She went on to state that: “we (CBI) have a survey showing that 60% of UK businesses will have triggered their contingency plans by March of next year (2018).”
Emma Marcegaglia, president of BusinessEurope, said: "Business(Europe) is extremely concerned with the slow pace of negotiations and the lack of progress only one month before the decisive December European Council.” Brexit negotiations need to pick up the pace. There are concerns that future trade talks could collapse ahead of December's EU summit. EU chief negotiator, Michel Barnier, has warned that the talks will only go ahead once the UK agrees upon its financial obligations/divorce bill to the EU.
In the meantime, businesses in the UK are preparing their contingency plans. For many, this means relocation. Relocating a business can be a complex process. When choosing a location, while proximity and language are two very important factors, having the right people supporting the growth and development of your business is equally important.
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