For those doing business in the UK and/or EU, Brexit means business as usual for now and planning for the future.
San Antonio, TX (PRWEB) July 22, 2016
Brexit is the historic action taken by the United Kingdom to withdrawal from the European Union. However, the actual date of the UK’s cessation of membership in the European Union is unlikely to be before 2018 as it must give two years’ notice of its intention before the exit can be accomplished. While Brexit is bound to cause some short-term disruption, its long-term effects are greatly disputed.
“Brexit is not the end of anything, and people doing business in the UK should not be scared by the hype,” said James P. Robinson, principal attorney of Robinson & Associates, PLLC. “For those doing business in the UK and/or EU, Brexit means business as usual for now and planning for the future.”
For U.S. companies that do business in the UK and/or EU, Robinson, in light of Brexit, lists the following three tips:
No. 1: Assess potential impacts. “It is important to take this time to make a cool, calm assessment of the potential impacts of the actual Brexit on your business,” said Robinson, who focuses on international law. “For instance, it is a good time to assess the actions being taken by the clients of your UK operations. If some will be pulling back from the UK market themselves, it would be a good idea to focus your business on those client types that will likely remain UK-based. If you are manufacturing in the UK, are you dependent on an EU specialist labor pool? On the other hand, if you are based on a UK labor pool, you may even see a relaxing of some of the more onerous labor regulations.”
No. 2: Silo your EU business. “If you are using a UK facility/subsidiary as a beachhead to do business in the EU, you might consider a plan to silo that EU business through a new Irish subsidiary,” said Robinson. “This doesn’t necessarily mean, however, folding up or even downsizing your UK business, as Brexit and the disruption incumbent on such a change will create opportunities. Brexit might even be a reason to look to the UK as a new marketplace.”
No. 3: Obtain legal advice. “In any event, thorough and ongoing strategic and legal advice as the Brexit process unfolds is essential,” said Robinson. “Knowledge, planning and agility will always pay off, and, again, do not be scared off by the media hyperbole.”
About James P. Robinson, Robinson & Associates, PLLC
James P. Robinson is the founder of Robinson & Associates, PLLC, a law firm with a national and international reach. Robinson & Associates has developed a practice providing comprehensive legal representation to businesses and entrepreneurs for issues related to business and commercial law, insurance disputes and international law. For more information, call (210) 822-2510, or visit http://www.jamesprobinsonlaw.com. The law office is located at 700 N. St. Mary’s Street, Suite 400, San Antonio, TX.
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