The formal deadline of the exit of The United Kingdom from the European Union is set for 29 March 2019 at 23:00 hours.
Although there remains the possibility of a transition period that will run until December 2020, the effects of Brexit are already noticeable.
In this Q4 of 2018, there is growing uncertainty with regards to the shape and format of a Brexit deal, if any is achieved. Currently the withdrawal agreement reaches over 300 pages and is still not finalized.
This will question whether UK businesses can still be active without burdens in the EU after 29 March 2019.
Brexit: Presents a Risk for the Continuity of Your Business and Clients
Timing for UK exiting the EU
Many organizations will be hit hard with the direct or indirect effects of Brexit. Already many institutions are planning for the worst, stating that even if a decision is reached on a transition period, this will be too late to help them with their planning activities.
Albeit, many businesses have not taken real action on preparing for the Brexit which is by default becoming the only sensible outcome that can be used for planning to ensure some form of continuity for your business and clients.
Many deadlines have already past, recently the one hoping to have a November Summit to finalize the deal. Do not wait any longer and hope for the best but instead, take responsibility for your own destiny and already secure the continuity of your business and clients in the European Union.
No Brexit deal: possible scenarios
- Major impact not being able to service clients from all 27 EU domiciled clients.
- A potential London real estate collapse. Many new office buildings are under construction and could remain empty if London based businesses need to move elsewhere.
- The potential rise in the cost of airfares, food and basic goods and services.
- The potential loss of Britain’s tariff-free trade status with the other 27 EU member states. Tariffs raise the cost of exports making British companies priced higher and less competitive. Import prices also increase. This creates inflation and lowers the standard of living for UK residents.
- An impact on Innovation & Fintech, as London struggles to attract the best talent and as EU citizens (have to) return home.
- UK companies are unable to bid on public contracts in any EU country.
- UK companies cannot sell their goods (especially manufactured goods) since they no longer comply with EU standards and must operate as a 3rd country.
No clear predefined level playing field
There is no clear predefined level playing field. There is no roadmap. There are no manuals, policies and procedures available to guide and support a business through the Brexit transition. Brexit is a once in a lifetime experience and opportunity. Brexit requires expertise!
In Q3 2018 there is increasing uncertainty about the shape and format of a Brexit deal if any is achieved, and whether UK businesses can still be successfully active in the 27 EU Member States (after 29 March 2019).
Unclearness is jeopardizing business
Key meetings in the UK and Brussels have not yet secured progress and have only added to the unclearness and uncertainty of the outcome. This unclearness and uncertainty could last well into December 2018.
This is far too late for businesses to change course, however, it is not too late to act now!
Call for immediate action
- To avoid panic-like reaction if Brexit becomes suddenly unclear
- To avoid a huge increase in demand when everyone tries to find solutions all at the same time
- To avoid a ‘log-jam’ for the companies affected by Brexit
- To avoid a backlog for formal licensing approval
- To avoid a lack of real understanding of the issues due to a high degree of complexity and the limited end to end oversight
- To avoid mass confusion and mixed messages from the UK government affecting trade, services, licensing, etc.
Nicodem & Company will make sure the above will not happen to you by actively help you to make choices and by managing the whole process.
We are specialized in doing
Specialized in managing unclear playfields under uncertain conditions, our Brexit Team will help you to quickly unravel the lack of clarity and eliminate chaos. We provide you with a hands-on approach that will quickly assist you to regain the focus on your business, personnel and clients.
We will be setting up your business in The Netherlands. Literally helping you with the articles of incorporation, setting up your bank account, registration at the Chamber of Commerce, helping you to attract and contract your staff, setting up your operations, help to select your office building, office equipment, supplies, etc.
Our proposition – For who is it?
Nicodem & Company will provide a range of services for UK-based organizations looking to establish a new (licensed) organization in The Netherlands as a result of BREXIT, in order to retain their smooth access to and ensure continuity of service to their EU27 client base
The types of organization will range cross-industry. The people who will buy this service will be London based and looking for local implementation support in The Netherlands.
Nicodem & Company will provide a range of services for Dutch-based organizations looking to retain or renew their position and possible product portfolio in The Netherlands as a result of BREXIT, in order to retain smooth operations and ensure continuity of service to their client base
The types of organization will range cross-industry. The people who will buy this service will be Dutch-based and looking for strategic alignment with the new market, repositioning of their services, and implementation support thereof in The Netherlands.
What are the benefits to you?
- Access to an in-depth understanding of The Netherlands and Dutch markets.
- Detailed knowledge relating to the set-up of new businesses, legal requirements regarding registration, staffing issues, premises, etc.
- Access to and the use of a strong local Dutch network.
- Detailed knowledge and first-hand experience of a large Brexit related program that covers specific areas that include the system and infrastructure changes, booking models, tax implications, expert staff hire and relocation, regulatory issues, operating model design, etc.
- Operational management.
- Access to M&A-related hands-on experience.
OUR POWERFUL AND DEDICATED BREXIT TEAM PROVIDES FLEXIBLE SOLUTIONS
Nicodem & Company – BREXIT Service Model
The BREXIT Service Model is a framework of activities and propositions to gain and keep control over your BREXIT program and the unexpected issues which inevitably will come up. The full detailed layout of all activities and visible monitoring of the entire program will add comfort and will support proper decision making.
Simply, click on the respective key areas to get a short description of the designated areas. All of the areas are further fully described in the BREXIT area of this site.
Partner - NFIA/InvestInHolland
The NFIA (Netherlands Foreign Investment Agency) is an operational unit of the Dutch Ministry of Economic Affairs and Climate Policy, The NFIA is our first port of call on new entries to the Dutch market, connecting you with a broad network of business partners, regional economic development organizations and government institutions to facilitate your international expansion. InvestInHolland are the local provincial economic development agencies, all related to the NFIA, comprising a comprehensive network for guiding foreign investment.
Throughout the years, NFIA has supported thousands of companies from all over the world, including Bombardier, Cisco, Danone, Fujifilm, Huawei, LG Electronics, SABIC, RWE, and Tata Consulting Services, to successfully establish their business in the Netherlands.
N&C - Trusted Advisor
Who Can Guide Me & Run My Brexit Program? A Trusted Advisor offering, helping you accelerate your Brexit Program & stay on track.
What is it?
Nicodem & Company will provide a senior partner as a trusted advisor to you, looking to establish a Netherlands presence and help setting up your organization as a result of BREXIT.
How does it work?
A trusted advisor comprises of:
- A dedicated senior partner of Nicodem & Company to work with you side by side;
- Ability to serve as local spokesman, using the network in The Netherlands
- Outline the plan, to help with shaping the initiative, highlighting the critical path, key assumptions, and critical internal and external dependencies
- The program manages the coordination of the major activities
- Access to key central organizations
Communication Strategy & Plan
How Do I Communicate All Of This To My Clients?
Helping you to communicate the right messages at the right time to your clients
What is it?
Nicodem & Company will provide a senior communication manager to you, who will, in cooperation with your communication department, provide a strategic communication plan. It will contain the goals, the stakeholders (within the organization), the messages and a timetable.
What are the benefits?
- A new communication strategy will be drafted, or the existing communication strategy will be revitalized and completed with the knowledge of the changes;
- An in-depth understanding of The Netherlands and communications habits;
- Synergy. Together with your own communications officer, the results will be tailored;
- Therefore the communication ways and moments will be professional, like presentations, meetings, and newsletters;
- A strong local network in Dutch media;
- Detailed knowledge and first-hand experience of the Dutch media, habits, do’s & don'ts
How does it work
A senior communication manager will be available to work with you side by side:
- Ability to serve as local spokesperson, using the network in The Netherlands;
- Outline plan, to help with shaping the initiative, highlighting the critical path, key assumptions and critical internal, and external dependencies;
- Access to key central organizations
BREXIT Readiness Review
How Do I Know If My Brexit Program Is On Track?
A short readiness review of your Brexit Program
What is it?
Nicodem & Company will provide a BREXIT readiness review for organizations looking to establish a Netherlands presence as a result of BREXIT, or, companies based in The Netherlands, dealing with the UK.
Who is it for?
Companies that need to establish their organisations in order to retain their client or customer base, and to ensure continuity of service to their EU27 customer or client base. The people who will buy this service will be either UK-based and looking for local support in The Netherlands, or are Dutch-based, looking for support to continue their business with the UK.
How does it work?
A Brexit Readiness Review comprises:
- An upfront BREXIT assessment of the key areas, providing a score against each area with regards to readiness;
- Presentation of the assessment with key findings and recommendations;
- Outline plan, to help with shaping the initiative, highlighting the critical path, key assumptions and critical internal and external dependencies;
- Access to key leads and department heads will be required for the information gathering/review process;
Client Migration Strategy
How Should I Move My Clients To My New EU Based Entity?
Helping you decide on the right strategy and supporting you in the client migration and novation activities.
What is it?
A review of your client portfolio and the creation of a data room/data function that can accurately confirm the scope of clients that need to be migrated to a new EU domiciled entity.
The work will involve understanding the clients that will have to move, where they sit in the client hierarchy, as well as the underlying products and limits that are associated with them.
The data room will oversee and manage the data, ensuring that all of the clients and positions are up to date. The data will also serve as the ‘golden source’ for the client migration and/or novation activities
What are the benefits?
- Single source of data;
- Control of the overall scope; client and product related;
- Clarity with regards to scope, which will help support and drive the migration and novation strategy, as well as the client communication approach.
How does it work?
One or more data analyst is provided to work with your teams in creating the data room and the golden source of data. Data is then managed under change control, with regular re-freshes being provided to support the various migration, novation and communication activities.
Nicodem & Company – Services portfolio
Based on our extensive expert knowledge and professional experience, Nicodem & Company will provide a broad range of services for UK-based organizations interested in establishing their organization, staffing up with local personnel and relocating personnel to the Netherlands ensuring continuity and access to all 27 European Union Member States.
Our Brexit Team provides services for all kinds of organizations. Some of the services are rendered in partnership with the local provincial economic development agencies (NFIA/Invest In Holland).
- Select location (i.c.w. InvestInHolland)
- Translate company goals/aims and condition to location and building
- Set up spatial and functional demands
- Write down list with location criteria
- Preselect locations (i.c.w. InvestInHolland)
- Visit and analyze locations (2-4 locations) (i.c.w. InvestInHolland)
- Report and decision procedure
- Define and implement facilities
- Furnish building, interior design
Setting up entity
- Determine the type of legal entity
- Set up statutes/articles of incorporation
- Setting up a shareholder agreement (if needed)
- Letter of intents
- Founding legal entity
- Define tax structure (i.c.w. InvestInHolland)
- Check declaration of approval with EU competition rules (i.c.w. InvestInHolland)
- Determine minimum amount of start capital
- Opening bank accounts
- CRS (Common Reporting Standard)
- FATCA (Determination US Person)
- Initial capital available
- Setup of General Ledger
- Determine the company’s starting date
- Arrange temporary accounting for startup
- Set up the initial balance sheet
- Setting up client agreement (SLA/pricing)
- Scan for other (future) partners (partners activity) (i.c.w. InvestInHolland)
- Define labor conditions
- Define terms of employment
- Wages and salary composition
- Labor union negotiations (define/adopt CAO)
- Job descriptions, authorization schemes
- Set up an appraisal system
- Recruiting local management
- Schedules/resource planning
- Negotiations temporary labor agency (i.c.w. InvestInHolland)
- Training local staff
- Migration of staff
- Global processes
- Describe Procedures
- General information
- Complaint handling
- IT Services Operations
- Financial operations
- Sales and Marketing
- Personnel and organization
- Resources en performance
- System support
- Incidents control
- Service level management
- Communication to your clients
- Assists your communication department
- Drafting communication strategy
- Revitalizing existing communication strategy
- Professionalizing communication ways and moments, like presentations, meetings, and newsletters;
- Strong local network in Dutch media (i.c.w. InvestInHolland)
- The first-hand experience of the Dutch media, habits, do’s & don’ts
- Ability to serve as local spokesperson
- Mission Vision CSFs
- Define product portfolio
- Product portfolio/product development
- Standard product requirements / SLA’s
- Account management
- Develop customer satisfaction goals and measurements
- Description of performance indicators
- Data/telephony network, servers, database, interfaces
- Determine the required specifications
- Systems network security
- Identify alternate vendors
- RFP to system integrators
- Contract negotiation
- Design and build/buy
- Simultaneously train future systems support staff
- Project management
- Setting up network planning
- Setting up activity planning
- Monitoring progress
- Advanced spotting of surprises/taking measures
- Dealing with external stakeholders
- Risk analysis
- External information
- Set up management information (internal and external)
- Analyze current operational performance
- Review vs. customer requests
- Review vs. competition
- Assessment operational performance