Advertising companies losing business due to Brexit
17 Jan 2017
New research shows that nearly a quarter (22 per cent) of UK advertising companies have lost business or contracts following the UK’s vote to leave the European Union (EU).
23 per cent do however feel that Brexit presents opportunities for businesses in the advertising industry, including international growth. Brexit also offers advantages for businesses such a lower exchange rate, better trading outside the EU and fewer EU regulations.
The figures, published by Credos, the UK's advertising think-tank established by the Advertising Association, are part of a wider survey accessing the impact of Brexit on the advertising sector, to be discussed at the industry's annual summit LEAD 2017 taking place on 26 January 2017. The theme this year is 'LEAD tackles Brexit'.
Our experts at Beavis Morgan work with businesses and individuals in the entertainment, media and creative industries, assisting with their business plans, establishing the market for their product through research, analysing their financial requirements both now and for the future, and putting processes in place to enhance cashflow, leverage tax smart strategies, minimise risk and drive financial success and business performance.
Our research and development (R&D) tax credit specialists have also made successful claims for advertising businesses through the government R&D tax credit scheme, securing significant 'money back for research and development' when some were previously unaware they could.
For further information about Lead 2017, visit http://www.adassoc.org.uk/events/lead-2017/
*Beavis Morgan Partner, Steve Govey, provides regular commentary in Campaign magazine and is a specialist adviser to businesses in the advertising industry.