
Brexit For Dummies®
Published by: John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030-5774, www.wiley.com
Copyright © 2019 by John Wiley & Sons, Inc., Hoboken, New Jersey
Published simultaneously in Canada
No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without the prior written permission of the Publisher. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at http://www.wiley.com/go/permissions.
Trademarks: Wiley, For Dummies, the Dummies Man logo, Dummies.com, Making Everything Easier, and related trade dress are trademarks or registered trademarks of John Wiley & Sons, Inc., and may not be used without written permission. All other trademarks are the property of their respective owners. John Wiley & Sons, Inc., is not associated with any product or vendor mentioned in this book.
LIMIT OF LIABILITY/DISCLAIMER OF WARRANTY: WHILE THE PUBLISHER AND AUTHOR HAVE USED THEIR BEST EFFORTS IN PREPARING THIS BOOK, THEY MAKE NO REPRESENTATIONS OR WARRANTIES WITH RESPECT TO THE ACCURACY OR COMPLETENESS OF THE CONTENTS OF THIS BOOK AND SPECIFICALLY DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. NO WARRANTY MAY BE CREATED OR EXTENDED BY SALES REPRESENTATIVES OR WRITTEN SALES MATERIALS. THE ADVISE AND STRATEGIES CONTAINED HEREIN MAY NOT BE SUITABLE FOR YOUR SITUATION. YOU SHOULD CONSULT WITH A PROFESSIONAL WHERE APPROPRIATE. NEITHER THE PUBLISHER NOR THE AUTHOR SHALL BE LIABLE FOR DAMAGES ARISING HEREFROM.
For general information on our other products and services, please contact our Customer Care Department within the U.S. at 877-762-2974, outside the U.S. at 317-572-3993, or fax 317-572-4002. For technical support, please visit https://hub.wiley.com/community/support/dummies.
Wiley publishes in a variety of print and electronic formats and by print-on-demand. Some material included with standard print versions of this book may not be included in e-books or in print-on-demand. If this book refers to media such as a CD or DVD that is not included in the version you purchased, you may download this material at http://booksupport.wiley.com. For more information about Wiley products, visit www.wiley.com.
ISBN 978-1-119-60122-7 (pbk); ISBN 978-1-119-60125-8 (ebk); ISBN 978-1-119-60126-5 (ebk)
Welcome to Brexit For Dummies and thank you for choosing me to guide you through the tricky topic of Brexit.
When the United Kingdom (UK) voted to leave the European Union (EU) on June 23, 2016, the result sent shockwaves around the world. In the years since, we’ve witnessed a complex (and seemingly never-ending) negotiation process, all sorts of political point-scoring, and a whole heap of steaming uncertainty. This book is designed to cut through all that and get to the critical information you need to understand and navigate Brexit.
Let me say upfront that I’m not a politician, I’m not a political journalist, I’m not an economist, and I’m not a civil servant. So, what, you might be wondering, qualifies me to write Brexit For Dummies?
I’m a British business owner, investor, and entrepreneur. I own and run several businesses in the UK, each one impacted by Brexit in slightly different ways. This gives me a solid foundation to write a book aimed at others — especially those in business in the UK — who have been scratching their heads at the news and wondering what Brexit means for them.
And what if you’re not in the UK? What if you’re in Europe or the United States, for instance, and you find yourself looking at Brexit from the outside in, wondering what the heck is going on? If that’s the case, I welcome you to our (not very) sunny shores and look forward to giving you a Briton’s perspective on Brexit.
Few words have the power to divide the nation like Brexit. Walk into any pub, shop, or office in the UK and ask the people inside what they think about Brexit, and you’ll get very different answers. In fact, the Brexit referendum divided opinion like nothing I’ve ever seen before. People who grew up together voted in opposite directions. Meals among friends descended into heated political debate. The “B-word” was banned from many a family gathering.
Few Brits were or are “on the fence” about Brexit. In my experience, most people in the UK feel pretty strongly one way or the other. In addition, most newspapers skewed heavily for or against Brexit.
Because of this, unbiased information about Brexit can be hard to come by. Yet, regardless of which way we voted, neutral information is exactly what we all need at this point in the Brexit journey. The UK has voted to leave the EU; when it does leave, we must all begin to navigate the UK’s new relationship with the EU.
For example, what happens to EU citizens living in the UK (and vice versa)? What might change for British businesses that export/import goods to/from the EU? How should businesses prepare for what comes next? What positive opportunities lie ahead for companies in the post-Brexit world?
In these pages, I answer all these questions and more — and always in an impartial way. You might say I’m on the fence and I’m staying there, at least for the duration of this book! Come join me up here. There’s plenty of room, and the view’s great.
Precisely because I’m a political “outsider,” I can deliver the unbiased information you need. In other words, I’m not trying to get you to vote for me, and I’m not trying to “spin” the facts to further my own agenda. Like you, I’m just trying to deal with Brexit, strip away the hype, and prepare myself and my businesses for life after Brexit.
So, as you may have guessed, impartiality is a core concept of this book. Here are two other concepts that Brexit For Dummies is built upon:
One final, practical thing to note about this book: Within this book, you may note that some web addresses break across two lines of text. If you’re reading this book in print and want to visit one of these web pages, simply key in the web address exactly as it’s noted in the text, pretending as though the line break doesn’t exist. If you’re reading this as an e-book, you’ve got it easy — just click the web address to be taken directly to the web page.
Most authors have a specific audience in mind as they write. I’m no different. So, while I was writing this book, I made some assumptions about you as a reader:
If that sounds like you (and I hope it does!), this book is just what you need.
To help you get the most out of this book, I highlight key points of advice with the following eye-catching icons. Look out for these helpful symbols throughout the book and you can be sure you’re picking up on the most important info:
In addition to the book you have in your hand, you can access some helpful extra content online. Check out the free Cheat Sheet for bonus Brexit content. You can access it by going to www.dummies.com and entering Brexit For Dummies in the Search box.
You can also find lots of additional information for business owners at www.dummies.com. Whether you’re just starting a business or looking to expand your skills in networking, leadership, project management or whatever, you’ll find plenty of inspiration and advice on the website.
Right then, where do you want to start?
One of the great things about For Dummies books is that they’re designed to be read in any way that works for you. So, if you want to read the entire book from cover to cover, go for it.
But maybe you have a burning desire to understand how the UK came to hold a referendum on EU membership. In which case, skip ahead to Chapter 2 and read about the UK’s rocky relationship with the EU. Need to know how Brexit affects employees from the EU? Chapter 7 is what you’re looking for. Interested in potential business opportunities after Brexit? Turn to Chapter 11, my friend. You can pick and choose the chapters that appeal to you most, so flip through the table of contents and take it from there.
Not sure where to begin? That’s fine, too. Just turn the page and see what comes next.
Part 1
IN THIS PART …
Get a quick overview of Brexit.
Understand the ups and downs of the United Kingdom’s relationship with the European Union.