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Ratchadapisek, Bangkok, Thailand

The impact of Brexit on language services

Posted 29 June 2016

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ALM’s verdict is: don’t stop trading!

The impact of the referendum result isn’t going to be immediate whether you trade in language services or manufacturing. There are so many unanswered questions and the Leave and Remain campaigns were based on so many issues that among the chaos, it is hard to think straight.

Apparently, there are rumours that English will be dropped as an official language of the EU, but like many knee-jerk reactions, this hasn’t been well thought out. It’s based on one person’s comment and is just a piece of journalism that has no substance. Language service companies will only be impacted if businesses are impacted and if they are, then we are in hot water as a country and our economy will falter.

No-one knows what the future holds and Brexit will be discussed for years to come as we all try and deal with the uncertainty of the future. It has certainly focused the minds of the British people in a way that nothing else has for many years. Shake-up can be a good thing and stops complacency in its tracks. It also leads to creativity, so let’s see what Great Britain can pull out of the bag this time round.

For a language company that has always served international companies, mostly based in Europe, ALM Translations will be keeping a close eye on the situation as our withdrawal from the EU draws ever nearer, but we are feeling positive. One thing’s for certain. The UK currently has the 5th biggest economy in the world. It goes to prove that size isn’t everything. Our little island has had such a major impact on the world, both in terms of trade and the lingua franca of business before and during EU membership and this will continue beyond Brexit.

So why would anyone want to stop trading with us?

One week on from the 23rd June and we’ve hit silence. The referendum result is still the main topic of conversation out there, but now what? The Pound dropped, shares fell, but are already rallying. Yes, it’s too soon to tell, but when the financial crisis of 2008 hit, our company noticed an immediate impact. Ironically, it was our European clients that kept us afloat until things starting picking up again. Meanwhile, our UK clients stopped sending work almost immediately and sat tight waiting to see what would unfold.

After this latest surprise result, one thing to note is that our country is in a better position financially than it was in 2008 and our coffers are certainly not bare. We are therefore in a stronger Britain and a stronger position, but the message we would like to get out there is, “don’t stop trading!” Trade has made the world go round since the dawn of human existence. ALM Translations believes that language services still have a very big place in business and are still highly essential for international trade, bringing huge business benefits and the ability to communicate effectively. Export has been the UK’s main business focus for the past few years. This is something that has not changed!

We are happy to quote for translations in GBP, EUR, USD and other currencies on request. ALM Translations remains a truly international business. Make Brexit work for you!

Let’s keep Britain trading!

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