We are proud to announce the opening of our 11th office, the second one in Europe. Salina is now present in London. Following the UK vote to leave the EU, many international businesses planning to expand to the UK are asking what to do now? How do we proceed?
Obviously, every company needs to consider its own position within the context of market sector. The underlying drivers as to why the market is good for UK expansion:
- The country remains the 6th largest economy in the world
- The financial and professional services remain one of the best in the world
- The country will now become even more focused on attracting world-class businesses
- The country continues to trade and work with the EU, like Norway and Switzerland
- Non-EU territories have now prioritized negotiations for new trading deals with the UK, including India, Mexico, Australia/NZ, South Korea, and others, who view the opportunities that the UK market offers as highly attractive
For you, what does this mean for your expansion plans and activities? If you had already decided to expand to the UK and have a strategy and plan in place based on a thorough assessment of the opportunities and challenges, your opportunity is still likely valid. Do the underlying assumptions on which you have built your business case still hold true?
As nothing will change in most sectors in the medium term, there is no reason to change your plans or activities. Opportunities in the mid-long-term could improve in some markets as the UK seeks to secure its leadership in those markets through attractive economic measures. A key implication for some international companies in some sectors at the right stage of their market expansion cycle is not to hold or run, but to seize the moment. If you have already committed to expanding in the UK for the right reasons, continuing your expansion whilst others falter or fail to act, can lead to you capturing and establishing a solid market position.
We pride ourselves on our integrity and advising our Clients appropriately to enable their business goals to succeed, so do feel free to set up an appointment knowing that we seek to offer you the best and honest advice at this time.