What impact does Brexit have on my international business?
February 28, 2022 | 60,00 EUR | answered by Alexander Voigt
Dear lawyer,
My name is Dennis Hohenwarter and I run an international business operating in both the UK and other EU countries. With the upcoming Brexit, we are facing significant uncertainties and I am wondering what impact this political move will have on my company.
Currently, we have branches in the UK and contracts with British companies based on EU regulations. With the UK leaving the EU, I am concerned about how this will affect our contracts, finances, and market access. Will our contracts remain valid? Will we have to incur additional tariffs or trade restrictions? How will Brexit affect our employees and their working conditions?
I am looking for solutions to continue my business activities successfully post-Brexit. Are there legal steps I should take before Brexit to protect my interests? What new regulations or contracts might I need to establish with British companies to ensure the best possible protection for my company?
I would greatly appreciate your assessment of the impact of Brexit on my international business and any recommendations for future actions.
Thank you in advance.
Sincerely,
Dennis Hohenwarter
Dear Mr. Hohenwarter,
Thank you for your inquiry regarding the impact of Brexit on your international business. As an International Law attorney, I understand your concerns and am happy to provide you with my assessment and recommendations.
The upcoming Brexit will undoubtedly have implications for companies operating in both the UK and other EU countries. Regarding your existing contracts with British companies, I can assure you that they will not automatically become invalid. However, it is advisable to review your contracts for any potential changes related to Brexit and make adjustments as necessary.
With regards to tariffs and trade restrictions, it is important to note that post-Brexit, the UK will become a third country and new regulations regarding trade with the EU will apply. It is possible that additional tariffs or trade barriers may be introduced, which could impact your business activities. To prepare for these changes, I recommend conducting a thorough analysis of your supply chains and trade relationships, and considering alternative trade routes if needed.
Regarding the working conditions of your employees, Brexit may also affect the freedom of movement of workers. It is important to familiarize yourself with the employment laws in the UK post-Brexit and make any necessary adjustments to protect the interests of your employees.
To continue your business activities successfully post-Brexit, I recommend taking legal steps early on. This may include adjusting your contracts, seeking legal advice, and negotiating new contracts with British companies. It is also advisable to research potential funding programs or support measures for businesses post-Brexit.
Overall, it is important to prepare early for the changes that Brexit will bring. By taking timely action and seeking professional support, you can ensure that your international business remains successful in the future.
I hope my assessment and recommendations are helpful to you. If you have any further questions or need legal assistance, please do not hesitate to contact me.
Best regards,
Alexander Voigt
