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A survey of over 1,200 company directors found that 16% had already pressed the button on relocation plans or were planning to in connection with Brexit, while a further 13% are actively considering doing so.
The trend was not restricted to big business. While more large companies had already moved operations, small firms were almost twice as likely to be now actively considering the prospect.
Two-thirds of IoD members export to the EU, of whom 40% were looking to relocate overseas, and 4 in 10 IoD members who are engaged with contingency planning have explored moving operations. The EU was by far the most commonly-identified destination for firms looking to move or set up operations abroad to deal with Brexit.