Many UK CEOs considering moving their HQ overseas following Brexit
27th September 2016 16:21 - Business Support
Many UK CEOs considering moving their HQ overseas following Brexit: According to a recent survey by KPMG, a 76 per majority of Chief Executives in the United Kingdom are considering moving their headquarters or operations overseas as a direct result the Brexit vote and the uncertainty which surrounds it.
The survey explored the opinions of 100 Chief Executive Officers in the United Kingdom, all of which were the heads of companies which earn between £100m and £1bn in annual revenue.
The survey findings also revealed that 72 per cent of the CEOs in the survey had voted to “remain” in the European Union referendum which was held on the 23rd June. Ultimately, 76 per cent now want to move their headquarters abroad.
Even though such a high proportion of the CEOs admitted to considering moving their business overseas, 73 per cent said that they were confident that their company will grow. As well as this, 69 per cent said that they had confidence in the British economy and forecasted that it will grow in the next year to 2017.
2017 is the year whereby the United Kingdom is likely to commence formal talks to leave the European Union.
The findings also indicated that the respondents believed that the British Prime Minister, Theresa May, would have to work hard to retain jobs and business following Brexit.
The Chief Executives were also asked about what would persuade them to continue to invest in the United Kingdom following Britain’s departure from the European Union. The vast majority said that the most important factor that they would be persuaded by was certainty over trade terms.
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