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Brexit: the business implications

14 Jul 2016

Well. Where to begin? The decision made by the electorate on 23 June has created a situation that presents difficulties and opportunities like no other. It is daunting, yes, but there is opportunity here…

First, it’s likely that investment decisions will now be in question. Whether it’s investment in plant or staff, we anticipate businesses will perceive they should put a ‘hold’ on discretionary purchases, but that may not necessarily be the case.

Take decisions on plant investment. Here, we can help by looking at your contracts and advising on your leverage points. Our team of dispute resolution and commercial lawyers primed and ready to tell you how to use these points to limit losses.

We can also assist with your employment relationships. If redundancies are unavoidable, we can help them run smoothly, but we can also help you with alternatives to redundancy. Whether it’s relocating, redeploying or retraining your workers, our employment team has the expertise to help.

Above all, our initial advice is to be as open as you can with your employees. Talk to them at every stage and they will understand that you’re on this journey together. Whatever the change to their working conditions – be that working fewer hours or taking a cut in pay – strong and open communication should help you carry your workforce with you; even the most unpleasant circumstances can bring a team together.

It’s an uncertain time for sure, and no-one as yet has all the answers. But none of our clients has to face the challenge alone; from the smallest to the largest, we’re here to help.

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