A new study of more than 2,500 senior executives in the UK, France, Germany and Spain has found that most believe that the UK may end up with a ‘soft Brexit’, with little change to existing arrangements.
Despite recent rumblings from Europe and its chief negotiator Michael Barnier, 58 per cent of respondents believed that the UK will keep its “passporting” rights, which enable banks to offer financial services across the EU, despite Brussels suggesting otherwise.
Of the senior executives asked to take part, 53 per cent said they would make “irreversible” changes to their operations to prepare for Brexit in the next few months, while almost three-quarters had already done so by June 2017.
Unsurprisingly, UK businesses emerged as being the most concerned about the potential impact of Brexit, with 74 per cent expressing concerns, compared with an average of 61 per cent for German, French and Spanish companies.
Despite these concerns, around two-thirds of respondents said they expected to increase turnover in the first year following Brexit, with only 12 per cent expecting a fall.
When asked whether they were “prepared for Brexit” by FTI Consulting – the firm behind the report – nearly 70 per cent said they felt ready.
Incredibly, eight out of 10 senior executives reported that their businesses had already created dedicated Brexit teams to prepare for Brexit and find new opportunities.
Of those who said that ‘soft Brexit’ was most likely, many were in agreement that despite the posturing by both sides, the UK was likely to have to retain some freedom of movement, while Brussels would have to offer the freest trade possible. 
If you are looking to make the most of all that the UK has to offer, please speak to our Brexit Professionals team at Grunberg & Co today.