How will Brexit affect the continuity of organizations across the EU?

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The majority of organizations in the UK feel prepared for the Brexit, whether it be a soft (69%) or a hard one (64%). However, there are still large percentages of organizations that feel  they are either not prepared at all or badly prepared for the event.

During the BCI World, the Business Continuity Institute presented an eagerly awaited report on Brexit and how organizations in UK, Europe and the rest of the world are preparing or have been preparing for Brexit.

It turns out that the majority of organizations in the UK feel prepared for the Brexit, whether it be a soft (69%) or a hard one (64%). However, there are still large percentages of organizations that feel  they are either not prepared at all or badly prepared for the event.

Financial organizations seem to be the most prepared, while public administration, healthcare and SMEs do not feel adequate support from the government and lack the necessary resources to plan effectively.

One of the biggest threats and fears for SMEs is the risk of losing European grants, a loss which may have a significant impact on their businesses. Only 47.8% of organizations consider themselves prepared for this eventuality.

Another relevant consequence of Brexit is, according to respondents, the loss of talents, who may be tempted to go back to their native EU countries in search for better prospects and stability.

Finally – and this is probably the scariest data for the UK – only 55% of the organizations that took the BCI survey acknowledge they will be keeping operations in the UK. 11% of the organizations has already either moved operations or has shifted staff into alternative offices within the EU.

Download the full report at this link.

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PANTA RAY is a training and management consulting firm, specialized in organizational resilience.

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