Welcome back to another week of Linkibuzz.
Our first featured story for this week looks at the Brexit and what effect it will potentially have on UK businesses selling electronic goods to the EU market.
Our second story comes from a startup founder revealing the number of hours, attention, and sacrifice that are really required to build a thriving business. This is a great read if you’re in the throes of building your startup now.
Our third story looks at an area that we think many startup founders are probably not paying as much attention to as they should be, which is a policy for dealing with regulatory environments.
Lastly, we explore how despite the Brexit, that employment levels in the UK are the highest since 1971 and what we can expect in the foreseeable future.
We know that the Brexit has thrown up uncertainties for the majority of UK-based startups trading in the EU.
In this story, we look at whether or not specific regulations regarding safety certifications are going to change or not. Businesses in the UK that are selling electronic goods of any kind need a CE marking on their products before they can be sold.
The question posed in this story is whether or not this EU regulation will affect British businesses post-Brexit. According to the writer, Damon Hart-Davis, there are not going to be any huge changes to this regulation once the UK leaves the EU.
The reason being that it’s likely that UK businesses will strike up some agreement with the EU that will allow them to trade even if they don’t have the EU’s regulatory CE marking. It’s a lot more work in terms of legislation, getting approval and of course, money.
The bottom line is that the CE marking will most likely still be a necessity for UK businesses selling electronics in the EU. However, as Hart-Davis points out; if UK businesses selling in the UK mess up the CE marking, then it’s likely they’ll be on the hook in terms of liability. And because the UK won’t be part of the EU, it’s likely to create more headaches than it otherwise would have.
Overall though, it’s expected that UK businesses selling electronics to the UK will still need the EU’s CE marking.
There are some great lessons for all current and future startup founders in this post.
The moral of the story revealed in this post is that you won’t build a thriving business unless you work for it. You can’t get something for nothing and this is ever so true for startups. There is no such thing as building a successful startup without a few sacrifices along the way.
The writer, Brian Scudamore, is someone who has experienced this firsthand being a startup founder. He talks about how in his own startup, hours and hours of work were required. That constant attention must be given to the business if it’s going to be successful.
What’s great about this post is that it paints a realistic and fair picture of startups. It’s not a case of you start your business and start living a rockstar lifestyle. The lifestyle part comes later after years of constant attention.
And this is a huge piece of the puzzle startup founders must understand if they want to be successful. Read the rest of the post to see some more insights by Scudamore that he has learned being a startup founder.
Startups in general just love to hit the ground running and get their idea going. This generally comes at the expense of forming a strategy to deal with and navigate certain regulations for their industry.
And may startup experts in the industry have indicated this is something startups need to stop right now. As many experts at the recent TechCrunch Disrupt SF pointed out, if you don’t have a strategy in place upfront for dealing with regulators then you will run into trouble later on, potentially legal trouble that could have easily been avoided.
The policy and regulatory environment is one area startups must take more seriously and ideally, they should do this before they even launch.
As one of the experts in this post points out, “If you don’t start to do this early on, and bring the regulators to an understanding of what you’re trying to do, showing them data, being sort of transparent about what you are building, and how it’s truly aligned with the purpose of regulation, I think it becomes a problem.”
As another expert in the post points out, this is something AirBnB did very well in its early launch days. In fact, they did this so well that they were even able to challenge specific rental regulations in San Francisco.
The bottom line is that if you’re a startup founder then this is something you must develop a strategy for. We highly recommend you read this post because there are so many nuggets of advice from experts in the industry.
For all the doom and gloom that was portrayed about Brexit and how it will affect the UK, there is some positive news.
This featured story mentions how employment levels in the UK have risen to their highest levels since 1971 despite the Brexit. Many economists were worried that the Brexit may affect employment levels negatively so it’s great news to see these figures have continued to rise.
Furthermore, economists are predicting that the unemployment rate will remain low despite uncertainty about the effect the Brexit will have on the economy. Economists have also reported they believe hiring patterns will remain the same as they are now despite the fact there was an initial drop in hiring immediately after the referendum.
The immediate concern is about a potential recession once the UK fully leaves the EU. However, the Bank of England is planning to keep interest rates on hold until it becomes clearer in time what effect leaving the EU will have on the economy.
Either way, it’s great news for the UK that employment levels have hit a record high and are expected to remain high for the foreseeable future.
Here is a quick recap of the stories from around the world this week.
We took a look at how the Brexit may affect businesses in the UK selling electronic good to the EU market and what it holds for future regulations. We also explored how a startup requires your full attention for it to be successful, even if that means making some sacrifices to your lifestyle.
Third, we looked at how startups need to make sure they have a policy for dealing with regulators in their industry before they even launch. Our final story revealed how employment levels in the UK are the highest they’ve been since 1971.
As usual, thanks for reading and stay tuned for next week’s Linkibuzz post.