Managing global business operations is challenging, and with Brexit on the horizon, many global companies are facing new uncertainties.
Freedom of movement is one of the largest issues in the Brexit negotiations, and has a large impact on global business. If your business has employees in the UK and EU, freedom of movement being revoked could have huge consequences. Some employees may travel to and from work by crossing a UK/EU border (in Ireland/Northern Ireland), while other companies deliver goods and services across borders each day as well. There are many industries that will be impacted by Brexit, including trucking, logistics, and service industries.
Another impact of Brexit on global business is the re-negotiated trade agreements. Right now both sides of the Brexit fence are negotiating terms and trying to determine how best to move forward. With the US, China, Canada, and many other countries around the world renegotiating trade agreements, there is a lot of uncertainty as far as global trade is concerned. Global businesses that rely on trade between the UK and EU will be impacted by these potential changes.
With Brexit talks continuing, global businesses need to prepare for potential impacts that may come from changes to freedom of movement and trade. Brexit will have long lasting implications for business all over the world, but being prepared and staying up to date with the latest changes is one way to avoid problems down the road. Working with a global consulting team can also help with any post-Brexit issues that may arise, and they can help ensure compliance as well.