James Dyson is moving the headquarters of his business to Singapore. This comes as a shock to many, who expected BREXIT backers to keep their businesses in Britain – but analysts say these fears are overblown. The move has nothing to do with Britain and the European Union: It is about where Dyson’s customers are located now and in the future.
In a company statement it is said that “This shift has been occurring for some time and will quicken as Dyson brings its electric vehicle to market.”
Why Britain needs the support of multi-nationals:
At a time when London is facing a critical test about it’s ability as a global leader, many US corporations including Apple and Google announced substantial investments in the UK – and also in the UK labour force as they expand their presence there. Brits often say “We vote with our wallets”, and this could not be more true for corporates: by voting with their regional budget allocations, multi-nationals can easily prop up a government and local workforce, or do the opposite when divesting.
Analysis cbout Dyson’s move to Asia: Making perfect sense
The company continues to invest in the UK market, but as the Asian region is now the largest market in the world, having manufacturers closer to consumers, reduces both cost and time. As trade wars escalate, having a headquarters in Asia will potentially side-step any punitive actions between that region and the west. Any future and existing free-trade agreements between Asian nations will directly benefit the company.