The UK was scheduled to leave the European Union today but instead we seem to be caught in the middle of an episode of Deal or No Deal. The BVCA have been keeping members up-to-date on any developments that affect the industry and what the priorities are for private equity and venture capital. The BVCA released the Brexit Brief, a briefing designed to update firms on the UK’s no-deal preparations and the BVCA’s work with policymakers.
The BVCA believe that a no-deal or disorderly Brexit would be a significant issue for the private equity and venture capital industry - for fund managers as well the businesses they invest in and the people they employ. This is because a no-deal Brexit would mean there is no transitional period, effectively creating a “cliff edge” whereby UK and EU firms may find that their levels of access to each other’s markets are suddenly significantly reduced or, in certain situations, blocked entirely. This briefing provides an update for firms preparing for Brexit, including a no-deal scenario. It covers the BVCA’s work with UK policymakers such as HMT, HMRC and the FCA, and updates from the EU. This briefing looks at areas that are relevant for private equity and venture capital firms (and indirectly their investors) and considerations for portfolio companies.
The BVCA have a number of notes and articles to help guide the industry on matters like the transitional period and proposed trade deals. Find them here http://bit.ly/2UfMmwW
And find the Brexit Brief here BVCA Brexit Brief