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Brexit: consequences for EU entrepreneurs

On 29 March 2019, the UK leaves the European Union. Brexit will have consequences for EU entrepreneurs doing business with the UK, so be sure to prepare as much as possible.

Long-term contracts

The eventual consequences of Brexit depend on the deals the British government will make with the European Union. If your company works with long-term contracts, it would be wise to include special Brexit clauses. These clauses should cover, for instance, the validity of the contract once Brexit comes into force. You may want to change your contracts to deal with a changing trade situation; for instance, if the UK decides to adopt different product requirements.

The United Kingdom will become a non-EU country

As of 29 March 2019. The UK (that is: England, Scotland, Wales, and Northern Ireland) will no longer be part of the European Union. The EU will view the UK as a non-EU country. The expectation is that the EU and the UK will come to some sort of arrangement concerning trade. Use the period until 29 March 2019 to study the rules for trade with non-EU countries, and to prepare.

Stay informed

If you have dealings with the United Kingdom, you’ll do wisely to follow the developments. There are several platforms. The main governmental one is the Brexitloket (in Dutch):
in Dutch:

Brexit events

The special Brexit website Brexitloket offers a selection of events organised to help entrepreneurs come to grips with the impending changes. For a list of events see the Brexitloket websiteExternal link (in Dutch).

The Netherlands British Chamber of Commerce (NBCC) organizes several events to help entrepreneurs prepare for Brexit. Some events require membership, others are open to all comers. You can view the NBCC eventsExternal link here.

KVK survey: many entrepreneurs unprepared

A survey, published by the Netherlands Chamber of Commerce (KVK) in October 2018, reveals that few entrepreneurs in the Netherlands are prepared for Brexit. Even though 81% of the survey's respondents indicate they expect to be impacted by Brexit, half of these have no idea what the impact will be, and only 15% are well-prepared. Greatest concern among the respondents is the increase in administrative hassle, once the UK is no longer an EU country.

Read the KVK press releaseExternal link.