With October 31st just around the corner, there is no doubt that Brexit is at the forefront of many business leaders minds. In this guest post, Vistage Speaker Ken Allison offers a view on how employment law may change in the coming months.
Since the UK’s decision to leave the EU in June 2016, barely a day has gone by without debate and conflicting speculation on the economic ramifications. Reflecting the contradictory spirit of Brexit, the Confidence Index Survey conducted last month by Vistage paints an interesting picture of the UK's SME landscape.
According to Deloitte’s European CFO Survey, Brexit is currently the most intimidating business prospect in Europe. Over 1,110 CFOs responded, and 37% believed Brexit was having or would have a negative impact on their business. Their primary concern is non-tariff barriers to trade - the increased complexity and costs involved in meeting different regulations across EU borders. Reduced workforce mobility and rising trade tariffs came in a close second and third.