As 2018 draws to an end, the outcomes of Brexit still linger in uncertainty. Businesses, and especially SMEs (small and medium enterprises), fear they will lose the most in case of a no-deal exit from EU. But what will happen to any employees in your team who might be EU citizens?
Amidst fears heightened by lack of clarity, many aspect still lay in darkness. You might also wonder about the effects of a no-deal Brexit on your company’s capacity to retain those members of the team who are EU citizens. While you don’t intend to lose employees, you don’t know what the legal aspects post-Brexit will be.
The rights of EU and UK citizens will be protected after Brexit
The Government has recently release a number of papers to ease concerns and help companies struggling with such worries. Among these, we notice the policy paper which protects the right of EU citizens to reside and work in the UK, and the other way around. Called Citizens’ Rights – EU citizens in the UK and UK nationals in the EU, the paper was released on December 6th.
If we look into detail, we shall see that, regardless of the other terms of Brexit, the rights of citizens will not be affected. The paper states:
“To achieve this, the UK will continue to run the EU Settlement Scheme for those resident in the UK by 29 March 2019 in a ‘no deal’ scenario. The basis for qualifying for status under the scheme will remain the same as proposed in a ‘deal’ scenario and will be focused on residence in the UK. This means that any EU citizen living in the UK by 29 March 2019 will be eligible to apply to this scheme, securing their status in UK law.”
So if you already employ EU citizens, they will preserve their rights after March 2019. Also, you can advise them to apply for the Settlement Scheme, to alleviate any concern.
Worrying local reports show impact on manufacturers
In other matters, however, the future looks a lot hazier. Major media outlets such as The Guardian publish prospects regularly, trying to cover as many possible scenarios as possible.
Also, research conducted by local business organisations such as Black Country Chamber of Commerce shows the negative impacts on economy. Their recent report on exporting local manufacturers highlights the increases in prices of the products now sold above. When prices increase, export can stagnate or even dwindle, and companies face the possibility of losing business.