Impact of Brexit on Translation Services for the UK Market
Brexit, the historic decision by the United Kingdom to leave the European Union, has undoubtedly ushered in a new era of economic and political changes. As the UK navigates its new path, various industries have been affected, and one sector that has experienced significant consequences is the translation services industry. In this blog, we will explore the impact of Brexit on translation services for the UK market, highlighting the challenges and opportunities that have emerged. Loss of EU Funding and Contracts Prior to Brexit, UK-based translation companies enjoyed access to EU funding and were able to bid for numerous translation contracts within the European Union. With Brexit, these privileges have ceased, leaving many companies struggling to replace the lost revenue streams. Consequently, some translation agencies have faced financial challenges, particularly those heavily reliant on EU partnerships. Changes in Regulations and Standards Brexit brought about changes in re...