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64 Percent Of German Companies Expect Brexit Effects

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64 Percent Of German Companies Expect Brexit Effects
64 Percent Of German Companies Expect Brexit Effects

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64% of German businesses fear that the UK's exit from the European Union will have an impact on their own business. In order to react specifically to the risks, 43% want to take a close look at the cooperation with suppliers and sub-companies. These are the results of the CSC survey “What Brexit means for the German economy”.

For the survey, the IT service company interviewed 100 managers with decision-making authority from the core industries of industry, trade, finance and IT in Germany. 58% of the participants were decision-makers from companies with 500 or more employees, 37% with 50 to 499 employees.

Companies review corporate structures

"As part of risk management, German companies analyze the consequences of the exit and evaluate them for their own business," said Jörg Asma, Director of Cybersecurity at CSC in Central and Eastern Europe. "The risks for German companies include, for example, open questions about the future free movement of people and goods. Almost every third person engages the legal department to have the compliance requirements checked."

In order to react specifically to the Brexit announcement, every fourth manager wants to review the company structures. 30% plan to investigate the IT locations of technical systems and their connections. Every fourth person takes a close look at IT accounts, for example by checking the nationality of authorized persons for future compliance.

Increased IT costs feared by data protection loosening

"German companies see a sore point when the legal situation for data protection changes," says Asma. “Just over one in four managers believes that stringent EU data protection standards will be relaxed after the UK leaves. After leaving the company, every third person expects IT costs to rise."

In addition to the risks associated with leaving the company, every fourth company is considering possible opportunities: 34% of managers want to react specifically to the announcement, for example, by exploring new business models that involve the UK's exit from the EU with local partners can result. (kj)

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