According to Mayfair based private investigators, the private investigations industry is awash with speculation that Brexit will have a big impact on the industry. The business that made the United Kingdom private investigation industry the best in the world is now no longer working. Failing oil and commodity prices are causing stagnation in the industry. As profits are shrinking, new revenue avenues have to be found. If and when the city frees itself from EU legislation, UK Based Private Investigators will be able to offer offshore services, allowing new markets to open up for the investigation industry.
Tailor-made business and corporate intelligence as we know it is over. There is a constant increase in due diligence and background checks, mainly for the banking sector. These types of investigations require more manpower which erodes profit margins. The top clients like the European Bank of Reconstruction and Development (EBRD) or the European Investment Bank (EIB) are now tending to use companies like PWC or E&Y, as the work they carry out is a numbers game and they can make profit even though they have had TO increase staff levels.
Smaller firms are suffering from the Y generation – young people who change jobs frequently, hoping to climb the ladder quicker. The downside to this is that they do not have the network of contact that is required to bring in new business and contacts worldwide to get the job done. Therefore, these firms are now turning to keeping themselves small and using sub-contractors and freelancers working from home; this helps to keep their costs down, allowing a better bottom line.
The outlook generally looks good for the investigation industry. Whether large or small, there will be plenty of new and rewarding work about, but not as we have known it. What the companies need to do is get into clients at the start of their projects and become the contract or project expert for the due diligence and risk. After Brexit, the UK will become an offshore market for business, and finance and banking industries will create new opportunities, and will attract wealthy clients to London that will require the advice and services of investigators.
– See more at:
Romania Investigations undertakes and conducts due diligence, insurance claims, intellectual property infringements, trademark and brand protection in Romania, background checks in Romania, since 2012.