One week after the UK voted to leave the European Union (EU), equity crowdfunding platform AngelsDen revealed its thoughts about the departure and economy predictions.
The website stated:
“Obviously the UK vote to leave the European Union has raised many questions about investing in UK businesses and the impact on Angels Den. The most immediate re-assurance we can give is that we can continue to trade internationally under our current licence structure. The process of leaving the European Union is expected to take two years and our plan to be established across Europe will be implemented well within that period. So there are no significant regulatory disadvantages to investors or companies seeking funding.”
In regards to the country’s economic future, AngelsDen added:
“In the short term we all expect a period of economic volatility in the UK. However we have proven since 2007 that our sustainable investor-led model can thrive during periods of great uncertainty. Indeed, in our experience, investors increasingly look to alternative investments when there are doubts over more traditional methods or the returns are low. The banking crisis raised the attractiveness of alternative investments in high growth businesses that were thriving, even in the recession. If you have any further questions, or just want to “Brieve” (grieve about Brexit) then please don’t hesitate to get in touch.”
As previously reported, the UK continues to remain in collective shock as the largely unexpected result of the EU referendum will see the country depart the European Union. UK Financial Conduct Authority released a statement following the announcement:
“On 23 June, the UK voted to leave the European Union (EU). This has significant implications for the UK. The FCA is in very close contact with the firms we supervise as well as the Treasury, the Bank of England and other UK authorities, and we are monitoring developments in the financial markets. Much financial regulation currently applicable in the UK derives from EU legislation. This regulation will remain applicable until any changes are made, which will be a matter for Government and Parliament.
“Firms must continue to abide by their obligations under UK law, including those derived from EU law and continue with implementation plans for legislation that is still to come into effect. Consumers’ rights and protections, including any derived from EU legislation, are unaffected by the result of the referendum and will remain unchanged unless and until the Government changes the applicable legislation.
“The longer term impacts of the decision to leave the EU on the overall regulatory framework for the UK will depend, in part, on the relationship that the UK seeks with the EU in the future. We will work closely with the Government as it confirms the arrangements for the UK’s future relationship with the EU.”