"The UK's decision to leave the EU will have significant implications for European companies closely related to the UK through customers, suppliers or markets. At this time, the UK is in a period of political and economic uncertainty whilst preparing for a change in leadership and an exit negotiation process. The precise implications for individual companies will remain unclear until discussions start, particularly around trading agreements between the EU and UK. What is clear is given the strength of political, economic and financial links forged over 40 years of EU membership and before, the UK will remain an important trading partner and ally of the European Union.
“scenario planning will be an important process for companies to remain on the front foot”.
— Paul Morris, Head of Western Europe
European companies will need to get to grips with the detailed implications of the decision to be able to formulate business model and operational strategies to respond. In the absence of detailed information, scenario planning will be an important process for companies to remain on the front foot. Willis Towers Watson has been working with its European clients and will continue to support them to consider the implications of this decision."