Connect with us

Hi, what are you looking for?

Jewish Business News

Business

Nearly a Third of UK Companies Moving for Brexit or Actively Considering it


Katharina Buchholz,

While the EU and British parliaments are still in limbo over a Brexit deal, UK companies are making up their mind about staying or going. Nearly a third of British companies plan to move at least part of their business abroad because of Brexit or are actively considering it, according to a report by the Institute of Directors(IoD). The British lobbying group surveyed 1,200 of the 30,000 firms it represents for the report.

Companies with a focus on importing and exporting goods and services were more likely to answer that they were relocating because of Brexit. Firms that were moving were most likely to set up an office inside the EU, according to reporting by the Guardian. The IOD said that while some larger firms, notably Sony and Panasonic, had already moved headquarters to the EU, smaller companies were now following suit.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.

The survey found that 11% had already executed relocation plans and 5% were planning to relocate in connection with Brexit, while a further 13% were “actively considering” a move out of the UK. Exporters were more likely to consider a move, with two-thirds looking to shift overseas, according to the Guardian.

The British Chamber of Commerce (BCC) said at the weekend thousands of firms were gearing up to move operations abroad or stockpiling goods to combat the worst effects of Brexit.

The IOD said it took “no pleasure” in reporting its findings.

Infographic: Nearly a Third of UK Companies Moving for Brexit or Actively Considering it | Statista You will find more infographics at Statista

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Life-Style Health

Medint’s medical researchers provide data-driven insights to help patients make decisions; It is affordable- hundreds rather than thousands of dollars

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...