Photo credit: Anton_Ivanov / Shutterstock.com
Many companies live in uncertainty awaiting what Brexit is going to mean for them and with the UK set to leave the EU on Friday March 29, businesses have to be ready for the worst. One in five UK companies has already tackled the uncertainties brought on by the divorce by looking to set up offices in other European cities. And now the Brussels Capital Region is trying to ensure these and other companies move to the Belgian capital.
A new campaign designed by the Brussels Capital Region aims to attract more UK businesses in the insurance and financial services sector to the city’s already buzzing financial and fintech ecosystem. The campaign, which is also backed by regional trade associations and industry bodies, argues making the move could mean that British businesses can continue to operate across the EU and thereby safeguard a more secure future. Moreover, it highlights how Brussels offers a business friendly environment and support companies by encouraging growth.
Commenting on the news, Cécile Jodogne, secretary of state for foreign trade at the Brussels Capital Region, said: “Despite the UK and EU establishing in principle a withdrawal agreement, there will still be plenty of room for uncertainty until the end of the transition period. Businesses operating in [both] the UK and the EU need to prepare now for any eventuality and as a priority ensure that they can continue to operate seamlessly across the UK and EU. The only way to guarantee this is to establish a base of operations within the EU and, as the Brexit deadline bears down upon us, businesses need to make a decision now on where to place these operations.
“Insurance and financial services businesses that want to be at the centre of the decision-making process and help to shape the future of the UK-EU relationship should consider Brussels as their European headquarters. Brussels is a prime location for British and any other businesses looking to maintain and grow their presence on the European and global stage.”
With both Berlin and Paris having already made similar moves, Brussel’s new campaign highlights that, while there are certainly many worries left, at least UK businesses are spoilt for choice if they would opt to go overseas to secure their future ahead of Britain’s exodus from the EU.