As Brexit looms, we’re helping businesses stabilize in uncertain times

The UK and EU are still at odds. Since the June 2016 referendum vote for the United Kingdom to leave the European Union, citizens and governments on both sides have asked key questions: who, what, when, why, and how. Unfortunately, three years later, it seems we aren’t any closer to answers as we were when the journey began.

UK Prime Minister Theresa May still can’t get a deal through, and the EU is getting impatient. But, what about the citizens and, maybe more importantly, what about businesses?

Businesses around the world work with both the EU and the United Kingdom in one way or another. The two economies both rank in the top 5 in gross domestic product (GDP), totalling over USD$20 trillion, adding up to 1/5th of the global economy. There’s a lot at stake here, and businesses are understandably worried.

What’s going to happen with the Euro and Pound? Will hard trade borders ruin important international business relationships? How much will the price of goods imported to and from the EU rise? Even for businesses outside of the EU and UK, the Brexit decision could have drastic effects on their income, relationships, and future.

These are uncertain times, and businesses are finding it hard to cope. As versatile and flexible as they can be, business owners rely heavily on market projections and planning. In a fluctuating market (much like the EU and UK right now), businesses can’t thrive.

In these uncertain times, we’re helping businesses find some stability.

For every £100,000 spent on goods and services through Veem, UK businesses will receive £1,000. The program will help businesses cover possible pricing fluctuations, foreign exchange shifts, or other unexpected consequences of a UK-EU split.

Brexit is just one of many political issues around the world that affect businesses. As is true of the US-China trade war, businesses are unsure when it will end, what will happen in the meantime, and how it will affect their businesses. One thing we can be sure of is that these problems aren’t going away anytime soon. And if they do, more will spring up in their place.

In trying times, we need to work with businesses to keep them going, and keep them growing. Change isn’t easy, but we can make the transition a little easier.

* This blog provides general information and discussion about global business payments and related subjects. The content provided in this blog ("Content”), should not be construed as and is not intended to constitute financial, legal or tax advice. You should seek the advice of professionals prior to acting upon any information contained in the Content. All Content is provided strictly “as is” and we make no warranty or representation of any kind regarding the Content.