Although more than 440 financial service providers have moved (part of) their business operations or employees to the EU, the UK will remain the most important trading country for three-quarters (74%) of Dutch companies even after Brexit.
This is evidenced by the Banking Department’s survey of 337 managers working in companies doing business with UK companies. While some respondents fear losing customers as a result of Brexit, nearly half (45%) of businesses say they are not concerned about this.
Opinions on Brexit are divided and this is also reflected in the Banking Department’s research. While a third of companies (30%) can no longer buy certain products and services from the UK due to Brexit, half (50%) say they are not affected by it. For a third of companies (33%), Brexit is not a reason to reduce trade with the UK in the future.
Brexit requires adaptability
Although Brexit will bring significant changes and uncertainties, research shows that a significant portion of businesses are ready for it to some extent. For example, half (50%) of companies say they know exactly how much impact Brexit will have on their business operations. At the same time, 61% of companies choose to adapt their business operations to Brexit.
According to Marcus Yarburg, head of Benelux sales at Banking Circle, the results show a clear split. This may be due to the impact of Brexit on organisations. Brexit requires some form of adjustment on all sides. However, these adjustments will be more stringent for one organization than for another.”
“At Banking Circle, we make sure international payments are as simple as possible. This saves businesses a lot of time and effort and means they don’t have to factor in the higher costs of Brexit.”
Read also: More than 40 financial institutions choose Amsterdam after Brexit
