Brexit – noteworthy dates

Brexit has brought an air of uncertainty for companies operating in and doing business with the United Kingdom.  As no country has left the EU before, no one knows what the process looks like and what impact it will have on businesses. The negotiations are still ongoing and in order to be as prepared as can be, companies are advised to keep an eye on official updates from the European Union and the British government so as to know where to focus efforts.

Below are some noteworthy dates to keep in mind to stay up to date with the latest updates on the Brexit process.

2018

17-18 October

EU summit. The official deadline for setting out the terms to be included in the withdrawal agreement for the “divorce” between the EU and the UK.

End of October

The Withdrawal Agreement is expected to be finalised.

November

EU has suggested this month as the latest a deal can be finalised. However, an exact date has yet to be agreed.

13-14 December

EU summit. This is the fall-back option in case no deal has been reached by October and both sides continue to want to reach an agreement.

 

2019

21 January

If the withdrawal agreement has not been presented by the government on this date, the Members of Parliament (MPs) will be granted powers to influence ministers’ next steps.

21-22 March

The final summit that the UK is expected to attend as a member of the EU.

Before 29 March

The European Union (Withdrawal Agreement) Bill needs to be approved and passed by Parliament to implement the agreement.

26 March at 11:00pm GMT

The UK leaves the EU.

23-26 May

Elections for the European Parliament in 27 EU countries – the UK will no longer be represented.

 

2020

31 December

Expected to be the last date of the transition period

 

Stay up to date on Brexit!

There are many ways you can stay updated about Brexit with Goodwille.

Sign up to our Brexit Newsletter to receive updates and developments of the Brexit negotiations straight to your inbox.

On our Brexit page, we have also consolidated everything discussed about to date to provide you a resource where you can track the developments of the negotiations as they happen.

Additionally, Goodwille has created a committee to monitor the progress of Brexit from a European perspective as well as the UK one. Feel free to contact us if you have any questions about how Brexit will impact your business in or with the UK post-Brexit.


This update is for general guidance only. Specific legal advice should be obtained in all cases. This material is the copyright of Goodwille Limited (unless otherwise stipulated) and is not to be reproduced in whole or in part without prior written consent.

Chequers Plan

The Chequers Plan is a potential agreement presented by the British Government on 12th July 2018. The purpose of the agreement is to retain certain areas of the pre-Brexit arrangements with the European Union and to ensure a smooth transition from EU dependency to Brexit independence.

In the table below, 4 of the main points of the Chequers Plan are outlined and compared to the current agreement applied through the UK’s EU membership.

 

Current Agreement

Chequers Plan


Free movement permitting UK and EU citizens to work, live and study freely in the UK and EU.
A mobility network terminates the free movement arrangement. In addition, it restricts citizens working, living and studying in the UK and the EU.

The restriction will require for EU citizens to apply to work and/or study in the UK, and vice versa.


Export and import of trade goods and agriculture between the member countries without tariffs and trade barriers.
A common rule book for all goods to secure the trade of goods and agriculture with EU member countries subject to the rules the British Government may choose to implement.

The regulations chosen by the British Government may have trading consequences.


A shared customs union, common agricultural policy and a common fisheries policy ensuring standardised quality and quantity control.
The UK will leave the customs union, common agricultural policy and the common fisheries policy to regain control over these areas, allowing the UK to set its own quotas and price levels.


The European Court of Justice interprets EU law and ensures that the laws are applied equally across all EU member states.
A joint institutional framework will be put in place to interpret UK-EU agreements. In the UK, this would be done by UK courts and, in the EU, this would be done by EU courts.

Any decisions by UK courts would need to take into account the EU laws affecting the Common Rule book.


 

In summary

The Chequers Plan is intended to provide the UK with an independent trade policy with freedom to implement its own tariffs and trade barriers independently of the EU’s laws. However, the UK will take steps to ensure continuous smooth trade between the UK and the EU by keeping a common rule book.

Further to this, The UK aims to take control over people entering the country to work and study, as well as restore the supremacy of British courts and end the European Court of Justice’s role in UK affairs. Lastly, it seeks to end the annual contributions paid to the EU and reduce these contributions to only be paid for joint actions in specific areas.

 

If you wish to look into the agreement with greater depth, the following links provide additional information and clarifications of the above:

The future relationship between The United Kingdom and The European Union’, published on 12th July 2018 on gov.uk.

What is the Chequers Deal? Theresa May’s contentious plan explained’ by Simon Rushton, published on 17th October 2018 on inews.co.uk.

What Is the Chequers Brexit Plan? Everything You Need To Know’ by George Bowden, published on 4th September 2018 on huffingtonpost.co.uk.

Chequers Brexit plan explained – what is Theresa May’s EU proposal and will MPs vote against it?’ by Tariq Tahir and Aletha Adu, published on 15th October 2018 on thesun.co.uk.

 


This update is for general guidance only. Specific legal advice should be obtained in all cases. This material is the copyright of Goodwille Limited (unless otherwise stipulated) and is not to be reproduced in whole or in part without prior written consent.

Can London tech businesses boost economic growth in a post-Brexit UK?

Brexit continues to occupy much of the space in the British and international media, with debate ongoing as to what the UK’s withdrawal from the EU will mean for business.

Recent government impact studies have shown that as much as 8% could be chipped off Britain’s GDP if the UK leaves the EU with no deal in place. Five percent of GDP will apparently go missing if they conclude a free trade agreement with the EU, according to the leaked reports published by BuzzFeed.

Even if Britain stays in the European Economic Area after leaving the EU, the damage will still be around 2% of GDP, according to the leaked impact assessments. Those figures suggest that some serious innovation will be required by businesses to keep the British economy on track and moving in a positive direction.

So what can be done? Well, tech startups in London could be a big part of the answer. If anyone is wanting to set up a UK company of this type, London is a good city to choose. There are a number of reasons for this.

Tellingly, London has a youthful, dynamic and diverse population, that is also very large. A massive chunk of the city’s population is classed as being millennials, a demographic which is naturally drawn to technology companies.

An indicator of the opportunities available to companies who set up in this part of the UK is that in 2015, London-based start-ups created 20,000 new jobs. They also managed to raise £1.3 billion. Now, in 2017, there is also a massive availability of investment platforms and accelerators, which can help a new business in London grow. These include TechStars, Crowdcube and Shell Livewire.

If you are looking to set up a new company in the UK, or diversify some of your operations by expanding your current business from overseas into the UK, then London is a good place to look. This is especially true for tech companies. There is a ready supply of workers and customers in one of the world’s most international cities. Brexit may well be on its way, and casting a shadow over the UK economy, but the opportunities to thrive in a city like London are still there to be grasped.

With years of experience helping foreign tech startups establish in the UK, Goodwille can help you with everything you need to succeed on the UK market.
Get in touch with us today if you need any advice or help with your company expansion.


Are you worried about what impact Brexit might have on your future possibilities to do business? We have consolidated everything you need to know about Brexit on our Brexit Tracker. The Tracker is updated as discussions go along, so it’s always up to date with the most recent progress of the Brexit negotiations. You find the Brexit Tracker on goodwille.com/brexit.

Launch in London – London Tech Week 2018

London Tech Week is getting closer, and so is our event Launch in London! We have a great outline of speakers, lots of interesting people signed up and a superb location boiling of creativity and entrepreneurship so we are certain that this will be one of the highlights of London Tech Week 2018!

There are still some free tickets left, but since capacity is limited we advise you to grab yours as soon as possible! Get your tickets through this link, just click the purple ‘Register’ button on top of the page, type in your details and you’re good to go!

ABOUT LAUNCH IN LONDON

Join us on 14 June for Launch in London – London Tech Week’s hottest event for any business establishing in the UK!

Hosted by Goodwille at Level39, one of the world’s most well renowned and connected tech hubs, Launch in London will provide you with everything you need to succeed with your business in London. Get inside tips on the Do’s and Don’ts when starting up in the UK, how to navigate Brexit, the British business culture and how to grow your network with the right people, all while overlooking London’s skyline.

This is THE event for startups, entrepreneurs and businesses looking to establish in London, as well as for mentors and advisors helping tech businesses succeed on London’s tech scene.

SPEAKERS
Alexander Goodwille, CEO of Goodwille will share the best tips, and the pitfalls to avoid when starting up in the UK.

Mark Leaver, Creative Industries Specialist of DIT – Department for International Trade will discuss why despite Brexit, the UK is still very much open for business and why you should start your business in London during 2018.

Joanna Dodd, Director of Rochester PR will share helpful insights on marketing, PR & how to get connected with the right people in the UK.

Joanna Smit, Owner of SMIT Training will help you understand the British people and culture and provide you with the intercultural skills you need to make your transition in to the UK market.

The seminars will be followed by a Q&A session, drinks, canapes & networking (plus opportunities for panoramic photographs of London!).

EVENTS DETAILS
Date: Thursday 14 June 2018
Time: 10am-1pm
Location: Level39, One Canada Square, Canary Wharf, London E14 5AB
Free entry

REGISTER FOR THE EVENT HERE


If you have any questions about the event, get in touch with our Marketing Manager James Service on james.service@goodwille.com or 020 7795 8100.

Freedom of Establishment – Corporate Mobility

Often labelled as “passporting”, Corporate Mobility means that once a company is established in one EU member state, others will need to recognise it as validly established legal entity. As a result, an established company can sell goods or services to other EU countries, in principle without needing to establish a branch or subsidiary there.  In some instances, member states’ tax rules will still require establishment of a local entity. An example here is the UK legal obligation to form a “UK establishment” (subsidiary or branch) when certain criteria are met. Several questions come to mind in relation to the future of this freedom…

Will you need to establish an entity in the UK to run operations smoothly?
If you have a UK Branch, should you form a subsidiary to strengthen your UK base?

Answers to these questions will vary depending on where your company is based, as well as what Brexit scenario the future holds – will there be a “hard Brexit” or not, how long is the transition period, will Mrs May negotiate a solution for corporate mobility?

To illustrate the background: Most continental EU jurisdictions (e.g. France, Germany) adopt the “Real Seat Theory”. This means the company will follow the company law where it has its real seat, being the location of the company’s centre of management or central administration. The second theory, called “Legal Seat Doctrine” (adopted, for example, in England), the applicable company law is determined by the jurisdiction where the company is incorporated.

This means that a UK established company, whether or not it is a foreign subsidiary or not, will retain its legal status in the UK irrespective of the Brexit model applied. Depending on business carried out in other EU member states, your UK established company may need to explore whether you should set up an entity in another EU country if you do not currently have such an entity. This will be particularly relevant for companies registered in one of the UK jurisdictions but having their central administration in a “Real Seat Country”.  Those types of businesses may risk to be regarded as unincorporated associations following Brexit, thus potentially losing their status as legal entity in those other member states.

On the flip side, if you are currently operating an entity outside the UK and are carrying out regular business with the UK, you may not have the benefit of being regarded as legal entity in the UK. Depending on your exposure to the UK market and business plans, you may wish to consider setting up a UK Limited company to strengthen your base. Whilst it is not possible to advice on what precisely will happen, we have seen this used as a contingency approach during less certain times.

Watch this space for a detailed analysis on any indications we have seen so far on how the UK is looking to fare with your Corporate Mobility!

 

 

If you have any questions about Corporate Mobility,
get in touch with Tessa Schrempf,
Corporate Legal Controller at Goodwille.
tessa.schrempf@goodwille.com

 


This update is for general guidance only. Specific legal advice should be obtained in all cases. This material is the copyright of Goodwille Limited (unless otherwise stipulated) and is not to be reproduced in whole or in part without prior written consent.

Free Movement of Goods

The free movement of goods is one of the cornerstones of EU law and business. It essentially is a two-sided coin, and provides for tariff‑free access to the single market and the elimination of non‑tariff barriers such as product regulation and approvals.

The issue concerning the status of UK rules vis-à-vis laws pertaining to the movement of goods and services, as well as changes to the VAT system, increasingly captivates our interest day by day. As the UK hopes to achieve a bespoke agreement, the British government will seek to maintain the closest relationship with the EU and, as UK Prime Minister Theresa May was heard saying during her Florence speech, a frictionless trade agreement between the bloc and the UK. The Draft Withdrawal Agreement published on 19th March 2018 supports this approach. One of the clauses both parties have agreed on stipulates that any good that was lawfully placed on the EU or UK market before 31st December 2020 should be able to continue to circulate freely until reaching the end-user. The existing rules on free movement of goods will largely remain in force during the Transition Period, with some applicable exceptions.

These developments are at least an interim departure from Mrs May’s ruling out of remaining in the single market or customs union. It remains to be seen how the post-Transition Period deals with the matter of freedom of goods, but future developments do not necessarily threaten frictionless EU-UK trade. UK industries and their respective sectors are highly integrated with the single market; the Office of National Statistics (ONS) state that over 59% of UK imports are of EU origin, whilst 48% of UK exports end up within the community.

It would not be in Britain’s interest to lose free-trade access to the EU, as the UK would lose access to countries with which the EU and European Economic Area (EEA) have also been negotiating free trade agreements. Moreover, a weakened Pound Sterling at the outset of the June 2016 Referendum, has seen demand for UK-built goods abroad increase, as exports became cheaper, and tourism saw improvement, where visiting the UK became more affordable. There is scope to protect frictionless trade in goods and services and to secure proper VAT processes following Brexit.

VAT and the flow of goods and services are symbiotic, and they will adhere too much of PM May’s rhetoric concerning the maintenance of seamless trade with the EU – predictability. Voices that declare that Brexit means “taking back control” are purported, as past decisions made by the European Court of Justice will be influential in the continued interpretation of VAT law in British law. The EU VAT Directive have been soaked up by British courts, and this is another signal that the path Britain is taking concerning goods, services and VAT will be governed by the virtues our company seeks to aspire to: predictability and reliability.

Additionally, issues concerning the future of services or goods do not seem to be so challenging at this stage, many self-accounting rules for VAT on services bought from the EU will remain broadly unchanged and there could be further opportunities; especially if one considers that EC Sales List declarations may not need to be completed. This suggests an orderly process of transposition and transition in a post-EU UK as being the name of the game.

In areas concerning the exchange and freedom of movement concerning technologies, the UK seeks to maintain its position as a leading provider and market for hi-tech industries. Upon reading the UK’s Industrial Strategy Paper in November, the UK seeks to increase innovation by raising total research and development investment to 2.4% of GDP by 2027. Over £1 Billion will be invested to boost Britain’s digital infrastructure, £176million for 5G and £200million invested to foster full-fibre networks in the UK. Equally important is the UK’s drive to invest £20 billion into innovative and high potential businesses.

 

 

If you have any questions about Free Movement of Goods,
get in touch with Alexander Goodwille,
CEO at Goodwille. 

alexander.goodwille@goodwille.com

 


This update is for general guidance only. Specific legal advice should be obtained in all cases. This material is the copyright of Goodwille Limited (unless otherwise stipulated) and is not to be reproduced in whole or in part without prior written consent.

Free Movement of People – Individual Mobility

By law, this freedom is called “Freedom of Workers”. We have expanded the notion here as in practice, it relates to more than just EU workers and includes for example family members and jobseekers, but also students and unemployed Union citizens. We have picked out the three most relevant categories here below.

Brexit for Employees

There has been a lot of speculation over the past 2 years around Brexit which has perhaps meant that many non-British citizens are questioning the security of their current situation in the UK. The key information is that there will be no change to the legal rights of EU nationals living in the UK until at least 31st December 2020, or later if there is an extension.

In December 2017, the UK Government announced that an agreement had been reached with the European Commission on citizens’ rights, whereby EU citizens who arrive in the UK by 29 March 2019 will be entitled to apply for “settled status” (see below) when they have five years’ continuous residence in the UK. However, the Draft Withdrawal Agreement published on 19th March 2019 confirmed that free movement of people will be extended to the start of 2021. This recent assurance means that EU Nationals arriving in the UK would be able to stay in the UK indefinitely and also access work permits via the new immigration regime.

Did you know…

  • Currently, citizens of EEA countries and Switzerland plus any non EEA family members can live and work in the UK and do not need any specific permission to do so at present, however in the interests of security and perhaps reassurance, it could be beneficial to formally request documentation.
  • There are pro’s and cons regarding applying for Permanent Residency at this time and also criteria as to whether an individual has this option open to them, i.e. one stipulation is that an individual must have been a continuous resident in the UK for 5 years or more.
  • Currently anyone who is an EU citizen living and working in the UK does not have to make an application to preserve their rights at this time; and indeed the Home Office are encouraging EU citizens to not make applications just now as they are inundated with applications.
  • There will however be the need to demonstrate via documentation in the future that an individual has the right to live and work in the UK. This could be via Permanent Residency, British Citizenship or Visa, but the longer term plan would be that individuals who do not hold visa status will apply for Settled Worker status (which will be discussed later in the newsletter). Those currently holding Permanent Residency will also need to apply for Settled Worker status.
  • Key areas which individuals may want to consider are whether they wish to be British (British Citizenship or Settled Worker), whether they would like the right to vote in the UK, whether holding dual citizenship is a possibility, whether they have EU family members who they would like to bring with them to live in the UK (as the British Immigration rules may be more restrictive than those currently enforced under the EU) and their taxation status.

Brexit for Employers

As discussed above, immediate uncertainties over the immigration status post-Brexit were addressed in the Draft Withdrawal Agreement confirming EU citizens’ rights to remain unchanged until 31st December 2020. As previously, this means for the moment there is no issue for EU nationals to live and work in the UK. Irrespective of the recent assurances, employers need to think about future proofing their business, which of course means looking at how the company can support both current non British employees and also potential hires from outside the UK.

Some thoughts to bear in mind:

  • Consider the workforce and how many non-British employees are in the business or British employees who may have non-British spouses.
  • What can your business afford by way of assistance? Consider presentations explaining the current status re immigration and Brexit and also presentations to assist with applications. Perhaps you can afford to pay for some legal support for employees who may be affected?
  • When you are hiring non-British employees, consider that they may wish to have some reassurance from you that post Brexit, should they not be in a position to stay and work in the UK that they will have some support, this could be by way of a clause in a contract, legal assistance, relocation package etc.
  • There is an expectation that there will still be a high requirement for EU talent in the UK post Brexit. There is a continuing skills shortage in the UK particularly within Tech.
  • There may be a greater need for UK Companies to apply for sponsorship licences to perhaps cover both EU talent and also of course talent from outside of the EU (as is current practice).
  • There are an expanded list of sponsorship licence categories and Companies need to decide which (if any) are more appropriate for them if needed.
  • There is an expectation that there will be greater restrictions on low skilled workers looking to work in the UK with visa’s capped at 2 years. This cap is also to extend to high skill workers with some visa categorisations, where they will be able to stay for 5 years without settlement status.
  • Companies should think about ensuring they are tightening up their compliance checks, including Right to Work checks (which are the minimum which an employer has a responsibility to carry out currently). Compliance is extremely important for sponsorship licences and failure to comply could mean loss of licences and the personnel sponsored by the Company.

Settled Worker Status

In December 2017, the Government announced that it had reached an agreement with the European Commission on citizens’ rights, under which EU citizens arriving in the UK by 29 March 2019 will be entitled to apply for “settled status” when they have five years’ continuous residence in the UK. This will give them the right to stay indefinitely. Settled Status is currently known as Permanent Residence, however those currently living and working in the UK under a Permanent Residence agreement will need to also apply for Settled Status.

Applicants who are not able to give evidence of five years’ continuous residence necessary to obtain settled status, but who can evidence that they were resident before the specified date, will be given temporary status. This means that they will be given the opportunity to build up the required longevity of residency to be able to apply for Settled Status.

 


If you have any questions about Individual Mobility,
get in touch with Jacqui Brown,
HR Manager at Goodwille. 

jacqui.brown@goodwille.com

 


This update is for general guidance only. Specific legal advice should be obtained in all cases. This material is the copyright of Goodwille Limited (unless otherwise stipulated) and is not to be reproduced in whole or in part without prior written consent.

The Key Aspects of the Draft Withdrawal Agreement

The key aspects of the Draft Withdrawal Agreement announced in Brussels on 19th March are:

  • The Transition Period will last from Brexit Day on 29th March 2019 until 31st December 2020
  • UK citizens arriving in the EU, and EU citizens arriving in the UK during the Transition Period will enjoy the same rights and guarantees as those who arrive before Brexit Day.
  • The UK will remain party to existing EU trade deals with third countries, but will simultaneously be able to negotiate, sign and ratify its own trade deals during the Transition Period
  • The UK will remain part of the Common Fisheries Policy during the Transition Period, yet without a direct say in its rules. The UK’s share of fishing catch will be guaranteed until the end of 2020. Through 2020, the UK will be negotiating fishing opportunities as an independent coastal state.
  • The issue of Northern Ireland remains a key point of negotiations. In all likelihood, NI will effectively stay in parts of the single market and the customs union in order to avoid a ‘hard border’ with the Republic of Ireland.

This update is for general guidance only. Specific legal advice should be obtained in all cases. This material is the copyright of Goodwille Limited (unless otherwise stipulated) and is not to be reproduced in whole or in part without prior written consent.

Why London Will Remain a Key City for Startups Post-Brexit

Ever since the UK voted to leave the EU, news outlets reported that thousands of jobs were set to leave the country and transfer to other financial hubs. Some startups packed up and set up shop in Germany, while multination companies said that they would be moving their business abroad. Some analysts warned that Brexit’s immediate effects would bring massive losses to the country’s retail and financial sector.

Despite such warnings, data analysis shows that London will be fine in the long run. Political journal Politico states that the City of London could actually be £43 billion stronger after the UK officially leaves the EU. In addition, contrary to what the mainstream media reports about the potential rise of unemployment, it would seem that 2/3 of London’s financial service companies plan to recruit more employees in the next 12 months.

Based on FXCM’s current economic calendar, the GBP readings don’t seem to be as volatile as last year. This is good news not only for the country’s employment rate but also startups whose products and services are based on the value of the sterling.

There are many factors why London will retain its place as Europe’s financial capital, which is especially good for startups. For one, the country has a sophisticated legal system that protects businesses from fraud and bankruptcy. London is also a world leader in finance, which will mean that companies will want to stay connected to the expertise found in the city.

Entrepreneurs still love London

Entrepreneurs, tech leaders, and startups in the U.S. still consider London as a great place for business because good, transatlantic relationships continue to flourish post-Brexit. A recent survey pointed out that more than 200 companies still felt that London is the top tech hub in Europe, and the best place to start a business across the continent. London is still ahead of its rival cities, which are racing to overtake the city as the startup capital of the UK.

“Our great city has long been at the very forefront of financial services. When you combine that with our new-found technological expertise, it creates an unrivalled opportunity for companies looking to break into the European market,” said London Mayor Sadiq Khan. “Despite the country’s decision to leave the European Union, there is no doubt that London will continue to be the booming and successful city it is today, open to talent and creativity from across the world and a leading destination for American business.”

The funds that go to tech startups in the UK remain solid, and figures show that it has already been able to hit £372 million since the June 23 vote. Investments for London startups, on the other hand, accrued £316 million in the same time frame, which is more than Paris, Amsterdam, and Dublin.

UK-based companies continue to have no problems bringing in business from EU-member states to the country. Here on our blog we discussed how Brexit had little impact on Swedish businesses entering the UK. Also, Britain remains one of Europe’s most attractive markets for foreign investments, and last year was their strongest financial YTD.

There is no doubt that the business sector may face some challenges in the upcoming years. Yet, London will always remain one of the best cities in the world for startups due to the expertise and infrastructure already in place.

Are you a startup looking to set up your business in London? Goodwille have experience helping numerous startups and SMEs opening up in the UK, contact us today to get help with your expansion plans.


This update is for general guidance only. Specific legal advice should be obtained in all cases. This material is the copyright of Goodwille Limited (unless otherwise stipulated) and is not to be reproduced in whole or in part without prior written consent.

Britain Will Always Be Open For Business

On the 23 June 2016 over thirty million people turned out to have their say on whether the UK’s future remained in the European Union.

When 51.9% voted to leave the EU it caused the pound to crash globally and left half a nation enraged with talks of betrayal – 18 months on, we are still waiting for a change. We met up with Goodwille, a patron of the Swedish Chamber of Commerce, who have been helping businesses from Sweden expand their operations to the UK for the past 20 years to find out exactly how Brexit has impacted their business and Swedish businesses decision to enter the UK since the referendum.

Have you seen a slow down in Swedish businesses entering the UK?

Brexit seems to be raising a lot of questions, but not influencing company’s decision to enter the UK market. The Swede’s are naturally risk averse, so at some point during client meetings we usually have to say, “Don’t mention the B word”, but they are usually just looking for reassurance. It seems to have become a conversation starter rather than a major factor in deciding whether they enter the UK. Despite all the uncertainty caused by Brexit to date it has had little impact on us here at Goodwille. Britain remains one of Europe’s most attractive markets for foreign investment and 2016 was our strongest financial year to date.

In my opinion most businesses who are serious about the UK realise the opportunity outweighs the current risk and the high-profile retail chains, along with the smaller start-ups we helped enter the UK from Northern Europe last year reconfirms this. Let’s not forget, the UK is still one of the fastest growing economies in Europe.

How would a hard Brexit impact Goodwille & businesses in the UK?

In 2016 the EU countries accounted for 48% of good exports and 53% of imports to the UK. With this in mind it is going to be in everyone’s best interest to keep the strong European trade links, so I just can’t see a hard Brexit happening by any stretch of the imagination. The UK has been a stepping stone in to North America for countless European businesses. The UK has a population three times that of Scandinavia, a pool of talent and is the tech capital of Europe.

Britain has always had big global trading ambitions. Brexit should see the best of this, making the UK a very enticing place to grow your business.

What would you say to those working in the UK from the EU?

There are over 2 million Europeans working in the UK at present and over a million British expats living across Europe. Brexit is a political issue, and there is surely no wish to eject such a large number of hardworking Europeans. Keep an eye on the embassy website for the official information and do not believe everything you read in the press.

What advice would you give to any Swedish business looking to the UK?

The UK is still a great market to do business in. Yes the rules may change over the next few years with Brexit, but Goodwille is a business with over 450 companies, many of which are facing the same problem. As such Goodwille is uniquely positioned to solve problems related to any changes that might occur and help our clients swiftly and efficiently. Ensuring the client can minimise the effects of any downside.

Goodwille have been helping foreign owned businesses enter the UK market for the past 20 years. To find out more about how Goodwille can help you in the UK, contact me on alexander.goodwille@goodwille.com


This update is for general guidance only. Specific legal advice should be obtained in all cases. This material is the copyright of Goodwille Limited (unless otherwise stipulated) and is not to be reproduced in whole or in part without prior written consent.