Whether you are a buyer or a supplier of services, Brexit may significantly affect the smooth running of your business.
Key considerations: your suppliers
Does your business rely on services from the EU or from another country with which the EU has an FTA? If so, will Brexit have any impact on that supply? For example:
- If EU-UK trade is based on WTO rules only with no agreement to maintain current passporting arrangements, financial services firms based in the EU may not be able to continue providing services to customers in the UK. See Brexit: Financial Services and Markets.
- If your business exchanges personal data with services suppliers in the EU, this could become unlawful on Brexit unless certain conditions are met. See Brexit: Data Protection, IT and E-Commerce.
Key considerations: supplying your customers
If you provide services to customers in the EU or any country with which the EU has an FTA (which may cease to apply on Brexit), do you rely on any form of regulatory "passporting" or similar measures designed to facilitate market access for services providers? In particular, consider the following:
- Can WTO rules be relied upon to preserve equivalent levels of access after Brexit?
- Is there any other set of rules or international convention allowing services to be provided to customers in the EU despite Brexit? (e.g. in the case of linear TV broadcasting, the Council of Europe Convention on Transfrontier Television should be considered).
- Is it necessary for your business to be established in the EU to continue to take advantage of market access rights or to appoint an authorised representative in the EU? See Brexit: Financial Services and Markets and Brexit: Data Protection, IT and E-Commerce.
- If your business exchanges data with customers in the EU, this could become unlawful upon Brexit unless certain conditions are met. See Brexit: Data Protection, IT and E-Commerce.
- Do your staff need to be able to travel/work in different locations in the EU? Can WTO rules be relied upon to preserve sufficient equivalent rights to travel/work after Brexit?