Uncertainty over how and when Brexit - the United Kingdom's formal exit from the European Union - will happen prompted Mr Alan Chua, founder of Singapore-based security solutions provider Concorde Security, to transfer his UK operations to a British partner last year.
"When we expanded into the UK two years ago, we didn't expect the uncertainty over Brexit to drag on for so long. Then around October, we saw a way out by getting into a licensee relationship with our UK partner, which will resell our security solutions. By doing so, we won't have to deal with high labour costs and difficulties hiring foreign workers in the UK when Brexit happens," Mr Chua said.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you