Friday, 24 June 2016 11:03

Brexit set to damage £1billion language industry

Geoffrey Bowden, General Secretary for the Association of Translation Companies (ATC) comments: “As an organisation whose members are focused on supporting companies internationally with their language service needs, we are concerned and disappointed by the results of yesterday’s referendum.

“A survey of the UK’s language service providers*, which are responsible for more than 12,000 jobs, showed that an exit from Europe will have direct impact on the sector. More than two thirds said their businesses with EU-based enterprises will be compromised by a UK departure, while fifty per cent revealed nearly one third of their current revenue is generated from customers based in other EU countries.
 
“We are already facing a record UK trade deficit** and an exit from the EU will further feed into that narrative making it even harder for the UK to close to improve its export performance with Europe and the rest of the world.”
 
* Online poll commissioned amongst 156 member organisations of the Association of Translation Companies, February 2016
** ONS – UK trade Q1 2016

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