Mitigating the Risk in Brexit, Questions one should be asking themselves -
How many EU individuals does our business employ?
How much business do we conduct in Europe?
How is our business model affected by Brexit?
Do we need to consider converting our existing business into a “societas Europaea”?
How dependent is our business on access to the EU market?
How would a less favourable trade agreement impact our business?
How does Brexit affect our suppliers and our supply chain? Where are the vulnerabilities?
Which legislation changes will affect our business?
How might changes to the status of UK financial institutions impact our business?
Do we use IT cloud services, If so, how might these be affected by Brexit given the impending EU Data Directive?
How will our business be affected if bilateral agreements with individual member states cannot be agreed?
Brexit - what are my options if I still wish to trade with Europe
As uncertainty continues as to Britains relationship with a post-Brexit EU, most businesses are looking to mitigate any potential risk by creating structures that will allow them a free trading relationship no matter what the final outcome may be.
Securing an entity on mainland Europe may be a viable and necessary option, together with the relevant infrastructure and capacity to allow your business to continue to trade freely.
As an exit from the EU is a very rare occurrence, and each deal is struck on an individual basis, one has to be rather flexible and pro-active in ones approach, and having the capability to do so may prove to be very beneficial indeed.
Our partnership with leading legal council and tax advisors will provide the necessary expertise to put you in the position to make the right decision for your needs.
I have initiated my contingency planning to allow me to continue benefiting from both scenarios and I highly recommend that both EU and UK business owners do the same.