Nearly one in three British businesses are planning to relocate some of their operations abroad or have already shifted them to cope with a hard Brexit, according to The Institute of Directors, reports The Guardian. The group warned that 29 percent of firms in a survey of 1,200 members believed Brexit posed a significant risk to their operations.
More than one in 10 already set up operations outside of the U.K. as a no-deal Brexit becomes more likely. Most firms considering moving were looking to open offices inside the EU, says the IoD. Large companies such as Sony and Panasonic have relocated their European headquarters from the U.K. to the continent, but the IoD says smaller companies are also enacting plans.
The survey of company directors found 11 percent already executed relocation plans and 5 percent were planning to relocate in connection with Brexit, while a further 13 percent were "actively considering" a move out of the U.K. Full Story
Related: Meat Producers, Confectioners Worry About Brexit; British Retailers Predict Food Insecurity With No-Deal Brexit.
from Industry Operations http://bit.ly/2t0nxG3
No comments: