In my opinion, the Brexit will without a doubt tip companies into insolvency. An actual exit from the EU would cause substantial economic disruption to the UK economy for some time.
There would be uncertainty in terms of any business that exports or imports from the EU until new rules and international trade agreements were in place and had been tried and tested.
In addition a number of business transactions I am aware of, including property purchases, are on hold until after the EU referendum vote on the 23rd June.
If the vote is to stay in the EU I believe that the UK economy will have a short boon period as any stalled transactions are completed.
If the vote is to leave the EU, a major concern I have is that a number of EU countries will feel ‘spurned’ by us and in effect not trade with us for a while as a form of punishment.
If you would like to know more about what the Brexit could mean for your business and steps to take to avoid insolvency, contact us today.