If you’re a senior figure looking to succeed overseas post-Brexit, then it’s essential you choose payment services that will complement your international growth strategy.
Why? Because UK business owners haven’t been deterred by Brexit. On the contrary; with the triggering of Article 50, it’s given some business owners even greater appetite to expand overseas.
Recent research by DMCC has revealed that Article 50 isn’t a looming spectre for British business. In fact, 42% admit it’s actually given them an even stronger incentive to expand and explore new options in foreign markets.
An enormous 75% of UK businesses have earmarked Dubai as a potential destination to do business, while 40% of undecided businesses believe the Middle East is at least a place to have a presence in if they’re to expand internationally.
With medium-sized businesses gaining confidence in their post-Brexit expansion strategies, it’s more important than ever that senior managers and CEOs focus their efforts on implementing global payment services which simplify financial processes and meet the demands of international regulations.
Having a strong relationship with the right payment services provider can open up a world of new financial opportunities for any business. Looking to grow your company and enter new markets? Read our blog ‘Can a consultative payment services provider boost SME growth?’ to find out more.
Choose a payment services network that puts compliance first
Senior managers can use the right payment services to take advantage of growth closer to home.
The Office for Budget Responsibility has revised its figures to take into account sharp growth throughout 2017. At the same time, the Fraser of Allander Institute has also considered the prospect of a second Scottish independence referendum alongside Brexit for its economic forecasts, believing that both factors are unlikely to stall business growth.
While there’s no doubt the Brexit negotiations will see some tricky times, the UK is still amongst the top three countries for company growth prospects, behind China and the USA respectively. Again, these are two territories outside the EU where senior managers and CEOs could look to expand their commercial activities with the right growth strategy.
International trade could be easier with the right payment services network
The world hasn’t shrunk because of Brexit. With many taking the opportunity to seriously consider expanding abroad, partnering with the right payment services may ease the international regulation and compliance process and complement future business plans.
The right payment services provider can also work with you to consider future trends and factors for your particular sector. Especially in times where the pound may fluctuate across international markets, this is important (though some commentators believe that the pound will stay relatively steady throughout the process).
One of the few absolute certainties of Brexit, though, is that the way the UK does business with the EU will undoubtedly change beyond recognition. This in itself will likely bring new gateways and regulations to business trade.
Partnering with a compliance-focused payment provider can help companies adapt with evolving markets, streamlining the way they do business with new markets in foreign communities.
Fibonatix is a global payment services provider that understands the importance of compliance, regulation and due diligence when it comes to providing easier payment services for you and your customers.
Having a strong relationship with the right payment services provider can open up a world of new financial opportunities for any business. Looking to grow your company and enter new markets? Read our blog ‘Can a consultative payment services provider boost SME growth?’ to find out more.
