A big change swept through Europe this summer which might not only change your upcoming European travel plans but your (US-based) life sciences business expansion plans as well.
Several American-based pharmaceuticals, biotechnology, and contract research organizations (CRO) have either expanded to Europe or are seeking to do so due to the global nature of clinical research. For many American life-sciences companies, the United Kingdom (UK) seems the obvious choice for businesses looking for a gateway to the rest of Europe. And why not? After all, the language and cultural similarities make the transition seem a bit easier for U.S. enterprises.
However, a referendum on June 23, 2016, determined that the UK (comprising England, Scotland, Wales and Northern Ireland) will no longer be a part of the European Union (EU).
What does ‘Brexit’ mean for life sciences companies looking to expand into Europe? Brexit’s implications for trade, and the movement of human and financial resources may take years to firmly take shape. The media is keeping a close eye on the ongoing changes. Already Brexit may have a negative effect on the European life sciences industry market.
Why the United Kingdom?
The obvious answer for why American life sciences companies naturally look to the UK when contemplating expansion is the perceived lack of language issues or cultural barriers between the two nations. This is not the only reason why the UK is the ideal choice, however.
Seuss Consulting’s experience has illustrated that the UK offers other favorable conditions for pharmaceutical companies, biotechnology companies, and CROs to set up a new office. However, our research also demonstrates that other EU nations well-suited for a life sciences company’s operations also exist.
Since Brexit has given the UK’s affiliation with the EU an expiration date, some enterprises may want to consider alternatives. It is worth analyzing the advantages and disadvantages of expanding to countries that will remain within the EU. By researching and comparing a multitude of factors, your pharma, biotech, or CRO company can better select the nation that provides the best conditions for your European expansion plan.
Looking to the Rest of the EU
Life sciences companies have turned to Seuss Consulting to determine which EU nation is most suitable for corporate expansion. Corporate expansion requires taking into account things like tax rates, labor costs, employment laws, English proficiency, the relative difficulty of establishing a business, and access to a volume of trained and experienced staff. Most importantly, a results-oriented consulting firm must consider each company’s individual needs, requirements, and strategies, and tailor the research and recommendations accordingly.
With 27 other EU member states to consider, it is natural and reasonable for life sciences companies to be slightly overwhelmed by the complexity of questions and factors to consider concerning EU expansion.
Business expansion is a complicated endeavor, made even more so if your life sciences company is considering opening offices abroad. Familiarity with the various laws and regulations of numerous EU nations can help you make this important decision.
Moving to the EU has never been a simple process, but with Brexit looming over the UK (and the EU), life sciences companies business may need to consider other options.
As a consulting company (founded by Americans) with more than two decades of working with life science businesses in the EU, Seuss Consulting has the breadth and depth of experience to understand your particular enterprise’s positioning and future trajectory. Our approach puts your goals first. Let Seuss Consulting do the research and help guide you make a truly informed choice. We know where you are coming from and we can take you to where you need to go.
Need a Bridge to Europe? Call Seuss Consulting at + 31 (0) 20-2900016 to have a delightful and insightful conversation with one of our friendly consultants or send a quick message to: TalkToUs@consultseuss.com