BREXIT and TMT
The least affected sector … ?
Time is running short
The UK is scheduled to leave the EU on March 29, 2019 and a considerable number of issues remain unsettled on both its withdrawal terms and on future economic trade and arrangements. A transition period until the end of 2020 has been agreed in principle (under which the UK will continue to be subject to EU law), but has not been formally ratified or legally adopted. As such, there are a range of possible outcomes, including the UK leaving the EU without any deal.
Technology, media and telecommunications businesses may think they are less vulnerable than other businesses, with less significant restrictions to market access, but they face a number of disruptive changes that could affect access to talent, supply chain, licenses and permissions, intellectual property protection and data flows, which could substantially disrupt the way they do business. The winners from these changes will be those that have assessed the potential threats and opportunities and prepared for them.
How could Brexit affect TMT businesses?
- Digital single market
- Supply chain and procurement
- Access to talent
- Regulation, licensing and protection
- Finance and tax risk