Happy New Year!
2018 saw significant changes throughout the business world.
The high street was undoubtedly the biggest commercial casualty of 2018. Across the UK casual dining sector, over 10,000 jobs were lost due to restaurant closures. The retail sector also suffered thousands of store closures and a number of high profile collapses.
Governments have been increasingly seeking to apply pressure on big tech companies in plethora of ways. The introduction of the General Data Protection Regulation seeks to hold companies accountable for data protection failings and enormous fines act as a motivator for compliance. Politicians are also seeking means to ensure the tech giants are paying their fair share of tax.
With regards to Brexit, there is no clarity on what will happen on the 29th of March 2019. Theresa May faces staunch opposition within Parliament to the Withdrawal Agreement she negotiated with the EU. If Parliament rejects the agreement, the subsequent course of action for the UK is completely open to speculation. Businesses are hoping for the best but preparing for the worst.
How well were you keeping up with the news throughout the year? Test your knowledge with our Commercial Awareness Quiz of 2018!