Creative Industries Federation urges creative firms to begin planning for ‘No-Deal Brexit’

Posted on 6th September 2018 By Billy Langsworthy

The Creative Industries Federation has issued a guide authored by Bates Wells Braithwaite urging creative organisations to begin to plan for the possibility of a “No-Deal Brexit”.

In the case of a “No-Deal”, the UK will automatically cease to be a Member State of the EU from midnight on March 30^th 2019.

According to the CIF, in a “No-Deal” environment, creative organisations would have to prepare to:

Face restrictions and costs when bringing in talent from the EU.
Risk losing employees who choose to leave the UK if they no longer have an automatic right to remain and access services.
Face far higher costs, delays and barriers when trading goods and services in Europe.
Lose access to important sources of EU funding and potentially private sources of finance as the UK becomes a less attractive destination for investors.

In a recent survey of creative businesses by the Creative industries Federation, 21% of respondents said they would consider moving part or all of their businesses abroad in the event of a “No-Deal Brexit” and in a separate piece of research, 74% of creative enterprises said restricting immigration would limit their capacity to do business.

Federation members can access the full guide on what a “No-Deal Brexit” would look like for the creative industries here.