Difference between revisions of "Brexit and the Rest of the World"

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(Created page with "Preparing for Brexit for organisations based in the U.K. is already underway, but for organisations based in Europe or the rest of the world, a plan to capitalise on the Brexi...")
 
 
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In order that the criteria are met, organisations without a U.K. presence should consider transferring a small but sufficiently significant portion of the business to the U.K.
 
In order that the criteria are met, organisations without a U.K. presence should consider transferring a small but sufficiently significant portion of the business to the U.K.
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Organisations already with a U.K. presence can hold firm, or perhaps boost one of the more likely measures to appear in legislation.
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The current weakness in the pound can make this UK footprint attractive to develop and so reduces the risk.
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==Conclusion==
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If you have no position currently in the U.K., it would be worth developing a small foothold. This can be done inexpensively by avoiding the hotspots of London and the South East.

Latest revision as of 20:32, 16 August 2017

Preparing for Brexit for organisations based in the U.K. is already underway, but for organisations based in Europe or the rest of the world, a plan to capitalise on the Brexit opportunities as they arise are still being formulated.

The Opportunity

Britain has many advantages geographically:

  • An English speaking bridge between US and India, with an overlapping time zone
  • An English speaking bridge between the US and Europe. Britain remains geographically close to Europe and makes a great landing spot for transatlantic communications and transport.
  • Deep sea ports - Britain boasts many deep sea ports.
  • Educated, can-do workforce

As the United Kingdom leaves the European Union, a G8 country will suddenly be free to develop its own laws and its own direction. This economic change will be bigger than the repatriation of Hong Kong and in fact probably the last major change of this size would have been the formation of the EU.

UK law will move more swiftly as it is unencumbered with EU vetoes and agreements across 27 nations.

What Needs to be Done?

It is likely that in the changeover and due to agreements with the EU on leaving, there are likely to be clauses to prevent companies "jumping on the bandwagon". These clauses would try to distinguish between long-established UK companies and companies moving purely to take advantage of advantageous legal and financial frameworks. It is difficult to predict the exact nature of these criteria, but we can guess at their rough nature:

  • Company incorporated before 1/1/20xx
  • Company headquarters or other significant address within UK, registered prior to 1/1/20xx
  • At least n% of workforce in U.K. are UK nationals
  • UK turnover in excess of £x,000 for last n years
  • UK tax paid over £x for last n years
  • Industry specific licences obtained in U.K. prior to 1/1/20xx
  • A combination of these or other factors

So to take part in the opportunities, if you have now holding currently, gaining a "toehold" in the U.K. now would be a worthwhile risk.

In order that the criteria are met, organisations without a U.K. presence should consider transferring a small but sufficiently significant portion of the business to the U.K.

Organisations already with a U.K. presence can hold firm, or perhaps boost one of the more likely measures to appear in legislation.

The current weakness in the pound can make this UK footprint attractive to develop and so reduces the risk.

Conclusion

If you have no position currently in the U.K., it would be worth developing a small foothold. This can be done inexpensively by avoiding the hotspots of London and the South East.