+IESE
BREXIT VIEWS What are the impacts of the U.K. leaving the EU?
Chris Daniels
Chief Commercial Officer, Satavia
mba ’00
The most difficult aspect of Brexit has
ted to stay and work in the U.K. and ded-
been not knowing – for example, wheth-
icate more resources to keep abreast of
er U.K. companies can continue to supply
legislative changes. In short, we have to be
EU aerospace companies. Short-term im-
nimbler to react when the final outcome
pacts may be resolved quickly but, longer
is known. For any company, it has been
term, manufacturing will likely shift away
difficult to plan adequately. If there’s any
from the U.K. Big market players are bet-
lesson, it’s that those in authority must put
ter equipped to shift capital, personnel
together clear guidelines for business early
and production to the EU. They’re able to
on. Going to the brink may be a useful ne-
hedge their bets by having operations and
gotiating tactic, but it’s fundamentally un-
legal entities in both the EU and the U.K.
helpful for business. With the end-points
But smaller companies, like ours, cannot
constantly shifting, being able to offer
do this so easily. Instead, we have to rely on
some points of clarity throughout the pro-
promises that EU nationals will be permit-
cess would have been helpful.
38 | IESE Business School Insight | no. 152