Brexit relocation options for SME’s
Brexit seems like a never ending story that has become a cat and mouse game between Parliament and Mr. Johnson. The ‘Flextension’ sounds like yet another euphemism for uncertainty. Over the past months several businesses collapsed or are thinking about relocating to escape from precarious Brexit’s conditions. Industries that depend heavily on a skilled European workforce and are funded by EU programs like the gaming industry are considering relocation. Furthermore according a survey by the British Chambers of Commerce, one out of five UK businesses plans to move part or all of their operations out of the country if there is a no-deal Brexit. 16 % activated relocation plans or is planning to do so.
Is relocation an option for your company?
Although large corporate relocations get the headlines, it is a viable option for smaller companies as well. Opening an EU subsidiary is a way to secure ongoing access to skilled labour, funding and EU market.
Where to go?
Several European cities have set up campaigns to promote themselves as ideal business location to establish an EU presence. Frankfurt is positioning itself as the banking hub while Luxemburg and Dublin are welcoming insurance and asset management firms. Amsterdam is the new location for the European Medicines Agency (EMA) and household names like Sony and Panasonic. Paris will be the new home for the European Banking Authority.
What about Brussels?
The capital of the European Union is perhaps not the first relocation option for banks and corporates but there are five reasons to consider Brussels as a relocation option
- After Dubai, It is the most cosmopolitan city in the world. There are about 1.2 million residents in Brussels, of which 23% of citizens are nationals of other EU member states, and 45% are of foreign origin. In total, there are more than 180 different nationalities and more than 108 languages spoken in Brussels.
- It has already a strong British community. It is estimated that 8500 UK citizens are already living in Brussels.
- Office real estate is readily available and situated on a relative small area. Compared to London, Amsterdam or Paris it is considered as budget friendly.
- Great accessibility with high-speed train connections to London, Amsterdam and Paris in less than 2 hours and direct flights to European capitals and good connection to Asia, Africa and the US.
- Brussel is appreciated for its quality of life and affordable housing. Good schools provide access to skilled labour with English language knowledge.
Who can assist with relocation questions?
hub.brussels, the Brussels Agency for Business Support, offers you a wide range of free advice, services and tools to make your relocation to Brussels a success.
The Expat Welcome Desk (EWD) of the Office of the Brussels Commissioner for Europe and International Organisations offers a personalised administrative assistance service to the international community in Brussels.
Growners owns over 20 scalable office locations in Brussels and is your real estate relocation partner.