On 24 December 2020, United Kingdom and European Union negotiators reached an agreement on a new partnership following the UK's exit from the EU.
Fortunately, the impact on Spidergap and our customers will be minimal as explained below.
Our approach to data protection hasn't changed
The UK Information Commissioner's Office (ICO) has confirmed GDPR will still apply regardless of the nature of any exit. Spidergap is fully GDPR compliant, and given our international customer base, we plan to remain compliant with EU laws.
More information is available on the ICO website.
We can sign Standard Contractual Clauses with your organization
We are happy to sign EEA standard contractual clauses for international transfers from controller to processor. This enables us to meet Article 44 of the GDPR regulations.
Please contact us to get a data controller to processor agreement for signing.
Impact to B2B Service businesses of a UK exit is minimal
The EU and UK Government have published extensive guidance on the impact of the exit of the UK.
We have reviewed all the relevant guidance and concluded that there are no significant changes to business-to-business (B2B) service businesses, such as Spidergap. For example, the UK will continue to align to the eCommerce Directive.
We use multiple currencies to reduce the impact of currency fluctuations
At Spidergap, we:
Receive payments from customers in multiple currencies (USD, EUR and GBP)
Pay our costs in a mix of these currencies
Hold significant cash savings in each currency, with this reviewed monthly to avoid being impacted by currency fluctuations.
Our services are not affected by transport and import/export issues
As a Software-as-a-Service (SaaS) business, we provide and utilize online services, and have confirmed that we have not been negatively impacted by changes to import/export regulations, agreements or potential issues (e.g. transportation delays).
We can move our headquarters to another country if needed
If future EU or UK regulations in some way prevented us from working with existing or new customers across the EU in future, we expect that we would move our legal setup to a country that supports us in continuing to work worldwide. This would be easy to do, as we are a remotely distributed organization, with team members based around the world.
In conclusion, the impact of the UK's exit from the EU on Spidergap and the service we provide is negligible. If this changes, we'll let you know.
If you still have any questions or concerns, please get in touch with our Support team!