As Brexit approaches, more and more British companies have been looking to Germany as a possible future foothold within the European Single Market.
In fact, in 2018, a record number of British firms explored the possibility of setting up a subsidiary in Germany – and actually did so.
According to figures compiled by Germany Trade & Invest (GTAI), 172 companies from Britain made serious inquiries about setting up a subsidiary in Germany last year – which is more than triple the amount that did in 2015, the year before the Brexit referendum was held.
The number of concrete decisions by British companies to set up a subsidiary in Europe’s largest economy also set a new record in 2017, at 152.
The companies attracted to Germany are primarily corporate service providers and firms from the IT and software sectors, and they often explicitly cite Brexit as one of the main reasons for this interest in Germany.