BREXIT RUSH! Euro big businesses starting firms IN UK to exploit Britain’s GLOBAL future

Posted on Mar 17 2018 - 4:35am by admin

German and Austrian firms are particularly keen to get a foothold in the UK since the vote to leave, it is claimed.

Alexander Altman from accounting firm Blick Rothenberg said opening a UK subsidiary would allow firms to utilise the country’s business culture, employment laws, banking systems and tax rates.

And he claimed the move would allow firms to better manage their imports into the UK and access work permits for staff from their home countries.

He told the Financial Times: “Having an entity in the UK also puts businesses in a position where they could have access to any future preferential trade agreements.”

According to figures from the German-British Chamber of Industry and Commerce, there are now 1,600 German firms now operating in Britain.

They cover everything from retail to finance.

Markus Seifermann, from UberRaum Architects, said firms were worried about the cost of importing materials and access to Labour.

But he boasted that no clients wanted to stop doing business with the UK because of Brexit.

He told the paper: “The opposite is the case.

“Everybody tries to find mechanisms to be prepared for whatever case it is  and at least maintain or even improve relationships.”

The views are a boost for the Government, which has talked up the potential for Britain to strike ambitious deals across the world after the UK leaves the EU.

However, some other experts did sound notes of caution, saying the businesses’ steps were being taken to “mitigate the risks” of Brexit

Joachim Lang, managing director of German business lobby the BDI, said some German companies had seen staff leave or were putting projects on hold.

He said: “They are not taking on any new projects, only executing current ones.”

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