The UK is has one of the most competitive economies in the world, ranked eighth out of 140 countries by the World Economic Forum. This ranking testifies to the strength of the UK’s institutions, pro-business policies and infrastructure.

Brexit - what’s the impact been to date? 

Contrary to headlines, foreign-owned businesses we spoke to expressed a commitment to the UK and did not intend to change their investment strategy in response to Brexit.

Interviewees see Brexit as a cause of unncessary time, effort and expense. They foresee changes required to supply chains and potentially a divergence of regulatory standards between the UK and EU. This would mean that businesses need more teams on the ground on the continent to set up multiple contracts and consider how regulation is applied across Europe.

“We need to ensure the UK’s voice in a global market is not drowned out by Brexit.” 

Ben Digby, International Investment and Trade Director CBI

Foreign-owned businesses we spoke to said they find it hard to see where in Europe businesses would transfer their investment to. They stressed that their investment decisions are not based on policy ebbs and flows and they think longer term when defining these. Many already had projects ongoing but did voice a reluctance to make further additional investments in the UK unless incentives were provided.