The EU Referendum: our clients overwhelmingly in favour of remaining

As a law firm specialising in employee share ownership, we see the companies we work with as forward looking, ambitious and well-managed.  Often technology-based and/or reliant on highly talented people, innovative and headquartered throughout the UK and sometimes overseas, we believe they represent a key strategic part of the future of UK enterprise.

So we thought it would be useful for their voice to be heard in the debate, and last week we asked for their views on the Referendum:

 

What would be better for your business, the UK continuing to be an EU member or leaving?

 

We are now able to release the results, which show 78% of survey respondents favour a vote to remain, 10% would prefer to leave and 12% are undecided.

Many have also given some comments, in which some common themes are:

Threats and concerns about leaving:

  • Uncertainty about trading conditions, likely recession at least in short term
  • It will be harder to find both skilled and “first rung” staff
  • End of access to the single market will reduce markets
  • Likely we would move our business out of the UK
  • Increased bureaucracy and complexity, more complex tax and VAT situation.
  • No longer have an influence on EU legislation to foster business
  • Access to EU tenders would end
  • Security would be reduced
  • Slowing infrastructure investment
  • Regressive attitude not consistent with global collaboration
  • Increased exchange volatility and related hedging costs

Comments from those favouring a leave vote were inevitably fewer but included:

  •  Businesses with strong international product would not be impacted
  • Legislation changes might present opportunities

  

If you would like further information, please contact Robert Postlethwaite on 020 3818 9420 or rmp@postlethwaiteco.com