Ireland, Germany and the EU: How do they face the challenges of Brexit?
Ireland, Germany and the EU: Meeting the Brexit Challenge
You can order our free Brexit Report – “Ireland, Germany and the EU: Meeting the Brexit Challenge”:
- Hearing Ireland’s Voice
- The impacts on the German economy
- Brexit from the European point of view
The Impact of Brexit on German Businesses
Results of the IHK Business Survey Going International 2019
The nationwide DIHK survey "Going International 2019" was conducted with the support of 79 chambers of industry and commerce (IHKs) in Germany. More than 2,100 foreign companies based in Germany took part in the survey in February 2019. The results of this special evaluation on Brexit are based on the responses of around 1,500 companies with business connections to the UK.
- The imminent Brexit is already a burden for companies
- The business situation of the companies has deteriorated considerably. Only one in five German companies still reports good business in the United Kingdom.
- Concerns about future developments are high: 70 percent of companies expect their business with the UK to deteriorate in 2019.
- Some companies are already taking action. Every 8th company with UK business is currently planning to relocate its investments to other markets. The majority of investment relocations from the UK are to Germany and other EU countries.
2. Concerns about tariffs and legal uncertainty are high
- For companies a concrete preparation is still only possible to a limited extent. For more than half of the companies, concrete effects of Brexit are still unclear.
- Three-quarters of the companies are concerned about additional customs bureaucracy. In addition, higher costs for customs duties and import taxes as well as legal uncertainty are the biggest risk factors.
- SMEs in particular face cost-intensive challenges. A hard Brexit would lead to additional burdens due to the additional customs bureaucracy and payments of customs duties in billions.
Brexit Special: Expanding to Germany
The United Kingdom’s decision to leave the European Union has led to a reorientation of business worldwide. GTAI advises and supports British and international companies seeking to establish business operations in Germany.
Dank einer großen Innovationsfreude, einem dynamischen Arbeitsmarkt und einer sehr guten Lebensqualität ist die deutsche Wirtschaft europaweit führend.
Learn more about why it is profitable to enter the German market on GTAI.de