In our inaugural newsletter, we wanted to make sure we focused on a current event that really is having an impact on the world of relocation. With the UK choosing to leave the European Union, we wanted to take the time to focus on how Brexit is shaping the world. For the first part of a two part-series we focused on the UK side of the situation. I had the privilege of sitting down with Ben Carter and Simon Johnston to discuss the impact Brexit is having on the relocation community, both as a country and in relation to the rest of the world.

     Speaking with them, there was one word that seemed to be a theme to the conversation: opportunity. With so much uncertainty moving into the future, the rockiness appears to only be a temporary set back for the UK. With the deadline on the 29th of March quickly approaching, things have someone stalled in the US. While talent relocation may be temporarily paused, the UK is preparing for thing to be quite busy, with business moving in, as well as moving out of the nation. As they currently deal with minor setbacks they are looking forward to the imminent growth that is on the horizon. With major technology companies choosing to base out of London, the UK does not expect to lose too many companies, especially since the UK is expected to have the lowest corporation in tax, following their exit from the EU.

     So how does Brexit affect the worker? With so much uncertainty, quite a few employees are choosing to stay in their jobs for financial security. As people proceed with caution, consumer spend is significantly down and house prices have plateaued. Relocation companies are now looking into different ways to transport. One exciting thing that was touched on in the interview is the potential this brings for US and UK trade. The UK, who already have a strong trade relationship with the US, are looking at in increase in trade between the two as their exit from the EU progresses.

     Though much remains in the air, this will be a time in history that greatly shapes the future. In all the uncertainty there is also potential for growth, with relocation companies finding countless opportunities for business. Though the UK is leaving the European Union, they are working hard to establish themselves in the global trade community as an independent nation.

Chris Morris, Senior Vice President at Mobility Empowered