Sunday , April 11 2021

Brexit: UK companies willing to say "goodbye"


Almost a third of UK companies are willing to relocate foreign businesses due to the risks of Brexit, according to a study released Friday by a employers' organization. In total, 29% of the 1,200 companies surveyed between January 17 and 19 by the Institute of Directors expressed this intention to prevent their company from being interrupted by an EU exit the outlines of the which are still very uncertain.

In detail, 16% of them have already registered activity changes and an additional 13% think of it.

These figures suggest, based on the survey, that Brexit's preparations are far from affecting only large groups, but also SMEs.

"It is not pleasant to convey these signs of concern, but we can not ignore the real consequences of this confusion, just as business leaders can not ignore the difficult choices they face to protect their businesses." says Edwin Morgan, acting CEO of the employers' organization.

The business community fears mainly in Brexit without an agreement that would be synonymous with the return of customs controls and other administrative procedures, which make it difficult for them to offer, as well as the sale of foreign products.

The most worrying warning was issued by the European aerospace giant Airbus, which threatened to leave the UK in case of divorce without any agreement.

The banking sector, led by US institutions, has also taken precautions and has begun moving activities and jobs in various European cities.

The British bank Barclays has obtained the green light this week to transfer 160,000 million pounds of assets to Ireland, although this decision does not accompany a massive displacement of sites of work

Finally, many companies are preparing for Brexit by increasing their stock in the automotive, industry or food industry sectors.

The British-Dutch multinational Unilever, known in the United Kingdom as the owner of the famous Marmite, announced Thursday that it will feature more ice creams from Ben and Jerry and Magnum, two of its famous brands.

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