3 months ago, the UK economy was, in fact, frozen in common with much of Britain. Do you have retail merchant services complaints? How can you get answers to your questions concerning merchant services UK? Just read this article and you’ll know.
Uncertainty Over Brexit: Retail Merchant Services Complaints
The uncertainty around the relations with the EU is expected to be more than apparent after Brexit becomes official on March 29, 2019. The situation is forecast to become even worse.
The UK’s vote to leave the European Union (EU) is anticipated to bring stronger impacts on the UK retail industry. The recent data in the field reveals that the impact of the vote on the UK retail industry has been more moderate than anticipated. However, many retailers are trading on slim profits. Moreover, their sales are decreasing.
When it comes to foreign prospective buyers, some got appealed by the fall of the pound. Others get been scared off by uncertainty around what to expect from Brexit in terms of investments.
Are you a merchant having some retail merchant services complaints? How can you get answers to your questions? Where can you get the necessary support to solve your merchant-services related issues? It’s simple. Just turn to a reputable payment expert in the UK that can help you enjoy the best deal for your business.
A respectable comparison company will offer you free consultation, reviews of contracts, rates, and fees so to ensure you’re getting the right merchant services for your business. Importantly, a true specialist in the field will provide you with the most honest snapshot of the company at the time of writing.
What Does Research Show?
According to some research in the field, the industry had a rise during the past several months. The IHS Markit/CIPS purchasing managers’ index (PMI) is among such research. The index covers Britain’s dominant services sector that registered a 3-month high of 54 in April (50 indicates expansion).
However, there’s another picture as well. It reveals that the situation is cloudier in fact. For instance, the British Retail Consortium’s (BRC) data shows that in-store sales of non-food items have dropped 3% over the 3 months to May.
According to the mentioned retail lobby group, the British government and the European Union must do their best to avoid a no-deal Brexit. Otherwise, this would block food supplies, increase prices, and put retailers out of business.
According to Michel Barnier, the EU’s Brexit negotiator, and Richard Pennycook, BRC chairman, being unable to protect the free flow of goods after Brexit on March 29, 2019 would cause harm to both consumers in the UK and producers based in the EU.
Based on the data provided by the BRC, over 12.500 small retail businesses will be put their business at the risk of becoming bankrupt. As for EU businesses, they’re faced with a situation of losing 21 billion pounds or $27.8 billion of agri-food exports to Britain.
Helen Dickinson, the chief executive of the trade body, notes that the retail environment is still challenging. The trend growth is very low in terms of historic standards.
Author Bio: Payment industry expert Taylor Cole is a passionate merchant account expert who understands the complicated world of accepting credit and debit cards at your business. His understanding of the industry and retail merchant services complaints has helped thousands of business owners save money and time.