Less than a month after the end of the Brexit transition period and the implementation of a trade deal that the UK government promised would guarantee seamless, tariff-free trade with the EU, British businesses have found the small print tells a different story.
The warnings have proven to be all-too accurate.
Misled
The worst-hit sector has been the UK’s fish exporters, who are unable to sell into European markets because of delays caused by paperwork at borders.
Small retailers have also been badly affected due to new VAT rules, with some unable to honour orders from customers based in the EU. The Federation of Small Businesses (FSB) said its members are facing “significant issues” as a result of leaving the EU VAT area, which means that sales tax is now collected by each country. Bills must be settled up front by the buyer, with a lack of preparedness on the part of exporters and purchasers resulting in shock demands for payment at the border in recent days.
For Swiss fintech professionals looking to network and learn more about the latest trends in the space to watch out for, we’ve compiled a list of eight upcoming online and hybrid fintech events happening in the first half of 2021 to attend and watch live.
The UK FinTech Mission to Austria and Switzerland 2021 is just around the corner this coming Thursday on the 28th January 2021 and here is all that you need to know about the webinar.
Organised by the UK Department for International Trade (DIT) and Scottish Development International (SDI), the virtual UK FinTech Mission 2021 will be discussing the latest trends, demands and solutions in finance and banking, insurance and investment between UK fintech startups as well as the Swiss and Austrian organisations.
This mission is an opportunity for UK startups to capitalise on the networking opportunities present in the Austrian and Switzerland ecosystems.
| UPDATED: 16:34, Wed, Jan 13, 2021
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Britain and Australia formally launched trade negotiations this summer, aiming to conclude a comprehensive and ambitious FTA covering goods, services and investment. International Trade Secretary Liz Truss and her Australian counterpart Simon Birmingham kicked off the talks via videoconference on June 17. Mr Birmingham indicated that both parties were aiming to conclude an FTA by the end of 2020, but it was a very ambitious timeframe.
UK international trade department unveils fintech match-making initiative
By Ian Hall on 22/12/2020
The DIT campaign will focus on promoting British solutions in areas including regtech, robotic process automation and AI | Credit: Pete Linforth; Pixabay
The UK’s Department for International Trade (DIT) has launched a campaign to encourage international financial institutions (IFIs) to invest in British fintech.
As part of the scheme, DIT will build a platform to help fintechs “connect with and advance commercial dialogue with IFIs” including asset managers, insurance and investment companies and banks. This “global ecosystem” will include the chance for fintechs to be matched with institutions.