Washington DC firm Hogan & Hartson has established an EU accession group in a bid to target corporate clients from the 10 countries due to join the EU next year.

The multi-disciplinary group, which comprises partners from across the firm's European network, plans to offer advice on issues surrounding EU membership.

The move comes ahead of a major survey commissioned by the firm, which found that a majority of businesses operating in accession states are unprepared for the legal and commercial changes.

When polled on investment prospects, 85% of bankers said they expect economic growth rates to rise and 71% of businesses anticipate foreign investment will rise. The majority of respondents predicted an upturn in privatisation.

Catriona Hatton, Hogans' Brussels-based partner and head of the EU accession group, said: "Enlargement presents hurdles for existing member states, accession countries, businesses and the EU alike."