New laws main legal concern after Brexit vote, says Brachers survey

New laws are the biggest legal concern for businesses after the EU referendum, according to a survey by a firm in the county.

Contractual issues and disputes were the other big worries revealed in a questionnaire of nearly 50 clients with Maidstone-based Brachers.

Although 66% said they were most worried about new legislation after the Brexit vote, companies said they were least concerned about changes to intellectual property law.

The EU headquarters in Brussels
The EU headquarters in Brussels

Lawyers gave advice at a seminar on Thursday about how to minimise risks as the nation renegotiates its relationship with the EU.

Brachers head of corporate and commercial James Bullock said: “It’s not surprising that legislation is at the front of our respondents’ minds, since the Brexit vote will affect all businesses that trade with the EU, whether as supplier or purchaser.

“However, the economic landscape in the UK has not, generally speaking, reacted to the Brexit vote as many experts had predicted.”

Mr Bullock said the South East remains the most active ‘deal-making’ region in the UK after London, with deals between £500,000 and £10 million increasing in the second quarter of the year, in the run up to the vote.

Brachers partner James Bullock
Brachers partner James Bullock

He said Brachers had seen a surge in corporate transactions.

“Despite the economic outlook appearing positive, we’re still at least two years from exit,” he said.

“Some businesses are suffering from the weak pound, and the deal volume increase was before the vote so we need to see the impact in Q3.

“The outlook is positive and businesses should now take the opportunity to plan ahead to ensure they are risk resilient and equipped for sustained growth.”

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