Al-Karim Kachra, corporate finance director for Country Court Care, has come out for remain in Thursday’s EU Referendum vote.
Country Court Care is a rapidly expanding operator with a pipeline of five brand new homes under construction in the Midlands and East of England.
The company recently secured investment of £40 million from Cheyne Capital Management, which will be used to finance five new build homes in Huntingdon, Northwich, Welwyn Garden City and Milton Keynes.
The group expects to have 27 care homes open by the summer of 2017, up from 21 today. Seven will have been built in the past few years, the remainder were bought and turned around by Country Court Care, but almost every home has been purpose built as a care home.
Mr Al-Karim says he will be voting for remain because there are fewer unknowns when it comes to the economy. His main reason for wanting to remain are the economic benefits of EU membership.
“Fear of what the future would look like if we exited and what types of trade deals we would enter into as a result,” are his key personal drivers.
Country Court Care, like most multi-home operators, has a large number of EU migrants on its payroll, and Mr Al-Karim fears they will be destabilised if the UK votes to leave.
“In the short-term we aren’t anticipating any changes however we are concerned about the mindset of our EU employees should we exit; in other words will they plan to leave in the next 12-18 months following. Maintaining a low staff turnover is often difficult in our sector and this could make it worse,” he states.