More than 37 per cent of UK and European businesses have felt the effects of Brexit more than expected, and the areas in which business has experienced the biggest changes, according to the Crowe survey, are VAT and customs, but problems can also occur when concluding commercial agreements.
Brexit has left companies facing new challenges of which they were previously unaware. The experts of Crowe and TGC Corporate Lawyers indicate that the problems may also relate to commercial agreements, which do not cover certain risks after Brexit.
To protect oneself against potential negative consequences for business, it is certainly worth carefully reviewing existing contracts in terms of their compliance with the Brexit agreement provisions currently in force. This will protect entrepreneurs from the risk of “surprises” and the associated costs. For British companies, an alternative option is to streamline operations by relocating them to one of the EU countries. Establishing a subsidiary, e.g. in Poland or the Czech Republic will help avoid many of the day-to-day operational difficulties – says Beata Ordowska, Partner at TGC Corporate Lawyers for wGospodarce.pl portal.
The article is available in Polish only.