How should businesses begin to prepare for Brexit?
There is no certainty of outcome and the Prime Minister recognises this, saying that no agreement with the EU would be preferable to a bad agreement.
Businesses therefore need to prepare themselves for tariffs on manufactured goods of all sorts and food products, the cost of which will either have to be absorbed by companies or passed onto the consumer, with unpredictable results. Supply chains may face disruption, particularly in industries such as aerospace where EU-wide accreditation is important.
Lawrence Gavin – Commercial Partner
How will the outcome of the Brexit referendum affect the property market?
Whilst many predicted a fall in the value of the pound following the referendum, few foresaw that the FTSE 100 would be in such rude health at the start of this year. The impact of a hard Brexit on the property market is likely to be equally complex.
Property investors are enjoying mixed fortunes and many are yet to fully recover the ground that was lost in the immediate aftermath of the referendum. Those with exposure in the City and West End will continue to monitor closely whether financial companies do start to exit London.
What do you anticipate the impact of a hard Brexit will be?
With EU negotiations and trade deals likely to take years to complete, uncertainty will continue for some time to come. In fact, the precise impact of a hard Brexit will vary. Not only from sector to sector, but also from business to business. Therefore, in that environment, property investors will see as many opportunities as there are threats.
Paul Firth – National Head of Real Estate
How will the employment market cope after Brexit?
The Prime Minister has thrown a recruitment gauntlet down for businesses by pushing for a clean Brexit.
Businesses which rely on EU nationals as seasonal workers and also those who provide care for the elderly will have to start to consider how they are going to attract local workers to ensure continuity of service for their clients and customers. That may not be easy, particularly in light of the fluctuating value of our National Minimum Wage when converted into Euros.
These types of roles are considered to be unattractive and many businesses have struggled to attract good, reliable workers from within the UK. It may be that they will have to consider offering other incentives, but this is likely to push up costs and make it unprofitable to be able to continue with current business models.
Omer Simjee – Employment Partner
How we can help
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