To read the full article on readyforbrexit.co.uk please click here.
Generally, there is a perception that Brexit will impact the EU less than Britain in respect to general trade. The EU has a number of issues and Brexit is just one of them, albeit an important one. Having been to France, Germany and Spain in the last year or so, I have seen that each of these countries is better prepared for a no-deal Brexit. They appear to have a much more in-depth understanding of how the European Union works and how businesses may be affected by Brexit. Furthermore, certain countries have already legislated for a no-deal outcome, France and the Netherlands in particular.
One factor contributing to this greater awareness demonstrated by our European neighbours is a thirst for knowledge and relevant information, which is simply not matched by the Brexit-fatigued business community in the UK. For years (quite literally) UK businesses have been advised to check supply chains, assess alternative manufacturing options, review workforce policies etc – all the while no tangible developments have actually been made so they are essentially preparing for the unknown – a potentially futile exercise. For some small businesses, dedicating staff or external resources to this research could be a financial burden they simply can’t afford.
This level of uncertainty is obviously not as great within the EU member states as they will be retaining their membership status and continue to trade with all other member states as usual.