Whilst no one has a crystal ball to predict what the final outcome will be, investors need to continue investing, companies need to remain agile to changing markets, and people need to move jobs and buy new homes.
As an international business with offices in the UK, Ireland and mainland Europe, we continually monitor Government and EU announcements about Brexit, to see if any of them will affect us from an agility perspective. Without knowing what the new legislation will be, we don’t know how it will work, so as a business we have to prepare for all possible eventualities as best as we can.
We see no need to make any drastic decisions at the moment, and believe that there are plenty of opportunities in Europe for us. We do have plans to make further openings at some point, and Brexit has not stopped our plans for further expansion. We are keeping our options open and will maximise on opportunities when the time suits.
Our offices in the Netherlands, Spain, and Germany, are regional specific entities in their own right. This, coupled with the fact that we look to identify local people to operate them and carry out client work, means that Brexit doesn’t impact us from that perspective. For us, it’s all about having the right people in the right places. However, we do have a contingency in place if the changes to statute mean that we can’t move people as freely as we currently do across Europe.
Whilst the impact and fallout of Brexit is something that we monitor regularly, it is what is happening on the ground in the countries in which we operate that really helps us to form decisions. We review macroeconomic and political factors that might impact those individual markets, to ensure we have the right strategy in place, of course we are fortunate to advise international and local clients in these markets which also helps provide a ‘live’ barometer of investor sentiment and risk appetite. This is very important to us and, in some ways, more so than the impact of Brexit.
We are seeing that there are investors sitting tight and waiting for more clarity before making investment in Europe, or bringing schemes forward. There are a small percentage that need to do something now, and others who don’t and are just waiting. Interestingly, there is money moving from London to Europe that may not have happened had Brexit not occurred.
As a business, we have made ourselves agile enough to make the right moves when we need to. When Brexit happens, we know that there will be a period of flux as we adjust to the new statute in place, but until that point, it is very much business as usual.