Brexit: an opportunity or a threat for business?

Planning and preparing for Brexit in a proactive way makes companies markedly more confident about the impact the UK’s departure from the EU will have on their business, according to the Hogan Lovells Brexometer survey. However, pessimism exists. The law firm’s research found that nearly two-thirds of major global businesses (with more than US$1bn annual turnover) anticipate reduced profitability through the next five years because of Brexit, and 14% of these companies expect the fall to exceed 5%. No US-based company saw Brexit as a business opportunity and more than a quarter saw it as a threat.