We ask directors Mike Coles and Andrew Downie what a leave vote could mean for their businesses.
On June 23, the UK will go to the polls to decide if we stay or leave the European Union. If the much talked about ‘Brexit’ happens, there is no doubt the ramifications on businesses would be huge, with both positive and negative elements.
The Source asks some licensees for their thoughts on how a leave vote could impact their companies, as well as the UK licensing industry as a whole.
Today: Cooneen & Dreamtex
Mike Coles, director, Cooneen
What will a leave vote mean for your business?
“Buying from Far East sources, using dollars, will likely prove to be more challenging as the pound weakens in all the uncertainty. Fact is, no one knows what the outcome will be – listen to the politicians, who are supposed to be the experts.”
How might it affect the licensing industry as a whole?
“Potentially, a change in European free trade could alter licence deals. Exclusivity for the UK territory is a possibility – unlikely though!”
Andrew Downie, commercial director, Dreamtex
What could a leave vote mean for your business and the UK licensing industry as a whole?
“I think a leave vote in the EU referendum won’t have much of an impact on our business in the short-term, as deals will be negotiated that will still enable trade between the UK and EU countries and free movement of people, goods and services.
“In the longer term it might affect us and the UK licensing industry as a whole depending on how China would react to a Brexit – there may be uncertainty on duty rates.”
This feature originally appeared in the Summer 2016 edition of Licensing Source Book. Click here to read the full publication.
Want to read more news like this? Simply sign up to our daily digest by clicking here. You can also follow @LicensingSource on Twitter.
