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Each seventh European company moved parts of business out of Britain

European companies have begun to move parts of their business out of the UK due to the approaching exit of the country from the EU. According to the Chartered Institute of Procurement and Supply (CIPS), every seventh European company has already done it.

Fourteen percent of EU companies with assets in Britain, such as offices, warehouses or plants, have scaled back their business. 11 percent of firms representing the EU have already reduced personnel working in Britain since the Brexit referendum in 2016.

The move of the supply network from the UK to the EU affected the prices. A third of British suppliers were forced to raise prices due to weakening pound. The other 41 percent plan to do so in the future because of the impact of Brexit.

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