Newspaper article Sunshine Coast Daily (Maroochydore, Australia)

Brexit's Business Effect; Uncertainty after UK Vote on EU

Newspaper article Sunshine Coast Daily (Maroochydore, Australia)

Brexit's Business Effect; Uncertainty after UK Vote on EU

Article excerpt

NICKY

MOFFAT

nicky.moffat@scnews.com.au

THE British vote to leave the European Union has caused uncertainty for Sunshine Coast companies with interests in the UK.

Mooloolaba-based Jetts CEO Brendon Levenson says he is now considering whether the UK is the best location for Jetts' European headquarters, although his plans for a September launch of his fitness brand in the UK will continue unperturbed.

Several staff had relocated to the UK, and were now wondering what effect Brexit would have on their ability to move around Europe as Jetts continues to grow and expand around the continent, he said.

The drop in value of the British pound was good for British exporters but would increase costs for Jetts, which imports equipment for its clubs.

He said the long-term impacts of Brexit were at this stage unknown.

"I don't think anyone really understands that at the moment," Mr Levenson said.

"Our business is fairly simple and we don't see any major effects on what we're doing. …

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