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Businesses must view Brexit in the long term with confidence, says Ward Hadaway

Brexit has raised many questions for companies across Manchester, but according to organisers of the Ward Hadaway Fastest 50 Awards, businesses must approach our divorce from the EU with confidence.

Paul Johnson, Executive Partner for the Manchester office

Paul Johnson, Executive Partner at Ward Hadaway, which organises the Manchester Fastest 50, said the concern for fast-growing businesses is the uncertainty over the next few years as we leave the EU.

He said: “Despite the breakthrough before Easter in securing a transition period, there is still uncertainty that is unlikely to dissipate in the immediate future. However from our perspective it has not deterred businesses pressing ahead and going for growth.

“We have witnessed a robust and very busy 18 months, and we do not anticipate this momentum to be lost any time soon. What we have seen is companies recognising the need to keep going, maintaining business as usual.

“This year’s Fastest 50 event in Manchester offers us a proactive way of communicating to others that the North remains a great place to do business.

“After the Brexit vote, there was initially some volatility in the market as companies tried to figure out what it meant to them, but since then businesses across Greater Manchester have adopted a ‘get on with it’ approach and have continued to pursue investment and growth plans.”

He added: “Much has been made of the fact that rules and regulations, policies and processes, are set to shift dramatically, and that businesses will have to make major changes. However, we believe that when it comes to regulation, there is every chance that it will become more relaxed, rather than more restrictive.

“We have to keep talking to our clients and sending out a positive message through the Fastest 50 to help drive fast-growing businesses forward.”

Mr Johnson added that while there is no doubt that Brexit will pose challenges of all kinds to businesses over the coming years, it will also offer up opportunities.

He said: “In the end, it will be the businesses which respond the quickest and which adapt best in post-Brexit Britain that will prosper – and which will make up the Ward Hadaway Manchester Fastest 50 in years to come.

“Ultimately there is no way to know for certain what is on the horizon. But crucially, the UK has, and will continue to have, a thriving business environment, with advanced systems and products that people around the world will want to invest in.

“That’s why we need to keep shouting about our region’s business success stories, what we can offer them and remain optimistic about the future.”

The winners of the 2018 Ward Hadaway Manchester Fastest 50 Awards will be announced on Friday, May 18th at the Museum of Science and Industry.

Awards will be presented to the fastest growing small, medium-sized and large businesses, for companies with annual turnover of between £1m and £7.5m, between £7.5m and £15m and turnover of more than £15m respectively.

The Ward Hadaway Manchester Fastest 50 is compiled and verified using publicly available information from Companies House to create a run-down of the privately-owned, profit-making companies who have seen the biggest expansion in their turnover in recent years.

Please note that this briefing is designed to be informative, not advisory and represents our understanding of English law and practice as at the date indicated. We would always recommend that you should seek specific guidance on any particular legal issue.

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