With the first Brexit Referendum anniversary approaching, it appears that there is still a sense of uncertainty about what the UK’s divorce from the EU will actually entail. And so up and down the country, people and businesses alike are beginning to brace for the next few years ahead. Elite Magazine explored some concerns troubling the Franchise sector.
This is a topic very close to our hearts and at the forefront of Rune Sovndahl, founder and CEO of Fantastic Services’ mind. The company’s story began in 2009 with 2 members, Rune and Anton Skarlatov with a shared vision to revolutionize the domestic services business. Fantastic Services has continued to grow and now works with over 300 successful franchising partners across the UK.
What decisions UK business faces?
So, Elite Franchise Magazine delved into a selection of the biggest and toughest questions facing UK businesses.
- How will EU Competition Regulations be converted into UK law? The benefits franchise owners currently accrue may be under threat of being reduced once this happens. Will franchises still be able to remain competitive?
- What effect will Brexit have on the free movement of people? Many business owners are concerned about the impact of leaving the EU could have on their ability to recruit and retain talent.
Glen Murphy, from Dennis and Turnbull also made an interesting comment on this point. “If there are changes to how people are able to move freely in Europe it will obviously have a big impact on the way that franchises operate.”
The article comes to a close by commenting on an issue which has already been felt by us at Fantastic Services. The company’s plans to expand into other European territories were put on hold soon after the referendum and we were not alone.
You can learn more about how franchises are looking to weather the Brexit storm here.