Today's news has been dominated by one story – Great Britain is out of the EU. I will not attempt to address the social or general economic ramifications here, nor represent the personal opinions of myself or any colleague, but I want to give you an update from our customer's and Company's point of view.
What does it mean to customers?
The Pound Sterling value is worth less than it was before Britain decided to exit. It initially dipped 10% down on the US Dollar. It's likely to stay down for a while. So if your currency is not preceded by a £ symbol, you'll effectively get our creative tools at a discount without trying! Exactly how long the Pound will remain down is up to others to determine, but it's a great opportunity for customers here and now.
For the moment, the purchase mechanisms – including VAT (purchase tax) – is not affected. It could take up to 2 years for new trade agreements to be in place.
What does it mean to Astute Graphics?
We're a strong company and in the 10 years of developing and selling plug-ins for Adobe Illustrator have ridden out several major storms; financial such as the 2008 crash and market-related such as Adobe's seismic changes when upgrading from CS5 to CS6 and then to CC.
Crucially we export at around 90% worldwide. Spin the globe and point at any land mass and we're likely to have a customer nearby! With more favourable exchange rates, we expect more global customers to take advantage of the changes.
Astute Graphics is a thriving company with wonderful magic up its sleeve being prepared for the future. Keep calm and draw on!