A large number of corporations had already taken to prepare for a hard Brexit for some time, and are now adjusted to the scenario at hand. The persisting confusion from (and, one may argue, of) the UK government regarding the British objectives of Brexit, has installed too great an uncertainty for firms not to act or react. Because uncertainty is the first enemy of business performance, especially firms that have their foreign multinational (regional) headquarters located in the UK yet cover parts or all of the EU are exposed to major risks through a hard Brexit: from market access conditions to the remaining EU (and potentially also non-EU Europe) to regional supply chains modifications and increased transaction costs. These firms and their SME (small and medium-sized enterprises and suppliers) eco-system produce, trade and deliver various intermediary parts of their product or service across several countries: they are highly exposed to increasing costs, rising backlogs, funding and warehousing needs that might change cross-border trade or investment conditions.
Professor Bruce Wilson, Director of the EU Centre at RMIT University.
Dr Gabriele Suder is Director of the International CEO Forum, and expert at the OECD (Services Competitiveness), the EU, JETRO and for the Australian Government (Commonwealth and State level). She is Vice President of the Australia New Zealand International Business Academy (ANZIBA). Gabriele has served as Professor and Professorial Fellow at The University of Melbourne. She was active member of the Centre for Asian Business and Economics (CABE) and served most recently also on the Steering Committee of the EU Centre on Shared Complex Challenges. Prior to this, Gabriele served as Director, International Relations at The University of Melbourne, as its university-wide leader of international institutional and government relations on a global level, and as Jean Monnet Chair and Professor at SKEMA Business School in France, China and the USA.
Acknowledgement of country
RMIT University acknowledges the people of the Woi wurrung and Boon wurrung language groups of the eastern Kulin Nation on whose unceded lands we conduct the business of the University. RMIT University respectfully acknowledges their Ancestors and Elders, past and present. RMIT also acknowledges the Traditional Custodians and their Ancestors of the lands and waters across Australia where we conduct our business. - Artwork created by Louisa Bloomer