The Associated Press LONDON (AP) — Nearly a third of British firms may shift their operations abroad because of Britain’s looming departure from the European Union, a survey of 1,200 company directors suggested Friday, as the political stalemate over a Brexit deal heightened jitters among businesses.
The survey by the Institute of Directors, an employers’ group, found that 16 percent of businesses already had relocation plans while a further 13 percent were “actively considering” a move.
The group said while headlines have focused on big companies, less notice has been given to smaller British businesses and their plans to relocate.
Institute interim director Edwin Morgan said smaller firms typically have tighter resources and for them “to be thinking about such a costly course of action makes clear the precarious position they are in.”
Britain is due to leave the EU on March 29, but a Brexit divorce agreement struck between British Prime Minister Theresa May’s government and the bloc late last year as been rejected by Britain’s Parliament.Speech