On 23rd June 2016, the residents of the UK will be voting whether or not the country should remain within the EU, or leave. The results of the referendum may have a huge impact on the country and its businesses. Experts across the UK have varying opinions on the outcome of the vote, some wanting to remain in Europe and others wanting to leave. Of course, business owners will be among those considering how they will be affected by remaining in the EU.
Funding
Businesses in the UK currently have access to funding from the EU, for training and other purposes. Staying in the EU means that UK companies will continue to have access to that funding, encouraging growth and employment across the country.
Renewable technologies have become increasingly popular, with a number of companies investing in this area of expertise. The EU supports renewable technology and its implementation, providing grants and funding for this purpose. A number of companies implement financial outsourcing services to maximise the benefits of various funds available.
Relationships with EU businesses
Many of the companies in the UK have developed their business by building trade relationships with companies within the EU. If the UK remains within the EU, that trade will continue to develop, with further potential for growth. UK businesses have been encouraged to expand into importing and exporting, which benefits from being part of the EU.
The workforce
Currently, the companies in the UK have access to a workforce from countries within the EU. Potential employees can travel freely to the UK from 28 countries, and have permission to work in the UK. Many skilled workers from the EU come to find work in the UK and send money home to their families. These workers often possess the skills that are required by UK traders to build and develop a company.
Shipping costs
Remaining within the EU makes it easier and cheaper to ship goods from EU countries. Importing and exporting is relatively cheap for a UK company, although leaving the EU would increase the costs significantly. A UK company which has developed good trading relations with EU countries, enjoying the benefits of low-cost shipping, may suffer as a result of leaving the EU.
Although there are many arguments for remaining and leaving the EU, businesses currently benefit from being within the EU, and leaving may cause significant financial disruption resulting in more insolvencies.
If you would like to discuss the benefits of remaining within the EU for your company, please contact us to arrange an informal meeting.