Following the 2016 United Kingdom European Union membership referendum, the UK Government are attempting to manage an exit from the EU.
Understandably, there is some concern over how UK companies operating internationally (such as Spidergap) may be affected.
Fortunately, the impact on Spidergap and our customers will be minimal as explained below.
Our approach to data protection won't change
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 will enable us to meet Article 44 of GDPR regulations (in the event that the UK leaves the EEA and Article 45 no longer applies).
Please contact us to get a data controller to processor agreement that you can complete, sign and provide to us to counter-sign.
Impact to B2B Service businesses of a UK exit is minimal
The EU and UK Government have published extensive guidance on how to prepare for 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 won't be 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 will not be 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 Brexit and UK regulations in some way prevented us from working with existing or new customers across the EU, 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, we are confident that the impact of any UK exit on our business and the service we provide to you will be 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!