The UK is preparing for a referendum on June 23 to decide whether to stay in the EU or whether to #Brexit. Staying in means it is easier to move people, money and products, and gives the UK that warm and fuzzy feeling of belonging to the wider European Community. Opponents argue it also shackles the country and impinges on those things that make the UK oh so British. There’s also the pesky issue of migrants and refugees, and the Brits would like to be able to set their own rules there, thank you very much.
No matter what happens in June, the EU-UK sands are shifting. Prime Minister David Cameron has already negotiated a “special status” with the EU, so even in the UK stays in, it won’t be stuck following all those rules about what Union members are required to do.
Polls show the referendum in a virtual dead heat at the moment, with both sides amping up spending to make their point.
National sovereignty is obviously the big issue here for the Brits, but any move will also impact the US, especially US business. US companies employ more than 1.2 million people in the UK and have invested more than $558 billion there. Investors will also feel the impact.
With changes on the horizon, now is the time to prepare. How does a Brexit impact you? Are you ready? Waiting until after the fact is always more expensive and more difficult than planning ahead.