Reform EU To Help Reshore Jobs – Fresh Business Thinking

22/03/2014

By Claire West

A snapshot CBI survey published this week shows that while there is a small but growing trend for firms to bring back parts of their business to Europe, from manufacturing to customer services, many more would consider doing so if the European Union (EU) reformed to become more competitive.

The qualitative survey of more than 50 senior business leaders in the UK, Germany, France, Italy and The Netherlands, who together employ over one million workers and generate nearly a trillion pounds in annual revenues, reveals that 60 percent said that EU reform that resulted in better regulation would be the key factor leading to them reshoring parts of their business.

Firms also urged political action to boost labour market flexibility and ensure the boundaries between the European Commission and national parliaments are better respected.

The research carried out by global research agency Millward Brown involved in-depth one-to-one interviews with CEOs, Chief Finance Officers and other senior figures from the world of business. It found that while some progress is being made to reshore jobs back to Europe, there is much more that can be done to accelerate the trend.

40% of respondents are in favour of reshoring in principle, compared to only 6% against. A third of firms surveyed (32%) have moved some degree of activity back to their home market in the last three years.

However, while 23% of firms say they will probably or definitely reshore in the next three years, 62% say they currently have no plans to. It came as a CBI delegation header to Brussels to discuss the issue with the UK Prime Minister, ahead of the European Council.

Katja Hall, the CBI chief policy director, said:

“This snapshot survey shows a real appetite across the Continent to reform the… continued on page two >