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Businesses Exiting the EU

For those of us living and working in the UK, since the momentous decision for the Britain leave the European Union, uncertainty has taken centre stage. The future for many UK businesses remains highly uncertain, as we question how to operate in such different circumstances to this time last year.

Brexit has led to many companies such as Goldman Sachs and Vodafone considering moving their headquarters outside of the UK, as free movement of people, capital and goods is essential for pan-European companies - especially in the face of an increasingly globalised world.

These companies are also understandably concerned with that ongoing worry in all of our minds - exchange rates. With the pound reaching an all time low against the dollar since 1985, large corporations, such as CBI, are demanding that the Government makes swift decisions to reassure the markets and promote confidence in the economy.

Brexit uncertainty has also lead to a lack of confidence in hiring and investment. Our E2E Honorary President, Sir Richard Branson, revealed that a deal to buy a British company was cancelled following the EU referendum result; the deal would have involved the creation of 3,000 new jobs. With a possibility of a 'Hard Brexit', there are likely to be more cases like this.

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