We ask md Rob Kimm what a leave vote could mean for his business.
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: Kimm & Miller
Rob Kimm, managing director, Kimm & Miller
What affect could a leave vote have on your business?
“I have no doubt that a vote to leave would adversely affect Kimm & Miller, certainly in the short-term and I’m fairly sure in the long-term as well.
“An already weak pound would devalue further which would make our dollar purchases from the Far East even more expensive. Being a seasonal business, this would hit us particularly hard as our 2016 prices have been set for some time. Going forward, our prices would inevitably need to rise which would lead to more uncertainty.
“I also have concerns about how future trade deals with Europe would look. We’re currently tariff free on any purchases from Europe and, as a result, our purchasing within the Eurozone is easy.
“I have a friend who runs a Danish company selling to the rest of Scandinavia. Again, they find this very straightforward – except for when it comes to Norway which, being outside the EU, causes them all sorts of issues to the extent that they now have a separate set up to deal with them.”
How might it affect the UK licensing industry as a whole?
“It’s difficult to judge, but if various companies licensing deals cover the UK only, but they buy in product from abroad, then they will be in the same position as I’d expect we’d find ourselves in.
“However, I know from various conversations that there are companies in the industry that feel being outside will help them – although nobody really can say in what way this would manifest itself.”
This feature originally appeared in the Summer 2016 edition of Licensing Source Book. Click here to read the full publication.
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