Samantha Cameron business hit by post-Brexit 'teething issues'
January 28, 2021, 12:25 pm

Samantha Cameron business hit by post-Brexit 'teething issues'

Samantha Cameron said it was ‘challenging and difficult’ to sell goods in the EU.

Wife of former PM says her firm is being hampered by trading difficulties with EU countries

Samantha Cameron has said that her clothing business is being hampered by post-Brexit trading difficulties with European countries.

In a her first solo interview with the BBC, Cameron said her fashion brand, Cefinn, had been hit by “teething issues” and the extra costs involved in selling products to Europe under the government’s trade deal with EU.

Speaking to Radio 4’s Woman’s Hour, she said: “If you’re bringing goods into the country from outside the UK and then trying to sell them back into Europe, that currently is challenging and difficult.”

https://twitter.com/BBCWomansHour/status/1354732500246003712

Echoing the current Brexit concerns of many small businesses about red tape and extra charges, Cameron said: “We really thought we’d done our prep and this … we weren’t expecting. So I think for bigger business, it’s fine. But if you’re small, it’s a challenge.”

She said Brexit was thwarting her ambitions to expand her business into Europe.

She said: “It does need to be looked at because otherwise we can’t grow out business. It is frustrating, the majority of our business is in the UK and we do a bit of business in America, but we did have a bit of EU business. And obviously you’d like to grow it, because it’s on your doorstep. But unless some of the expense and cost of doing that is looked at it will be challenging.”

In an apparent swipe at government advisers who suggested that British businesses that export to the continent should set up separate companies inside the EU, Cameron said: “We can’t afford to have warehouses in Europe and that sort of thing.”

She also urged the government to “talk to all businesses out there who are in a similar position to me”.

Asked by Woman’s Hour’s new regular presenter, Emma Barnett, whether she had discussed the Brexit supply chain issues with her husband, Cameron said: “Yes definitely. Some of these things came up in the very last moments of negotiations. So you definitely deal with having this problem at work.”

She also offered support to the current prime minister’s partner, Carrie Symonds, over media portrayals of her influence over Boris Johnson, following reports of an internal Downing Street feud in the autumn.

Asked about claims that allies of Johnson’s former chief aide Dominic Cummings called Symonds “Princess Nut Nut”, Cameron said: “I don’t think she should have that kind of criticism laid at her door … The idea that it’s the wife somehow influencing them over and above what they think or what advice they’re getting from their team, I think it’s kind of demeaning for the prime minister.”

She added: “I think that is very unfair to pick her out as having some kind of undue influence.”

Asked for any advice she could pass on to Symonds, Cameron said: “I think you’ve got to find your own way. Do the things that you enjoy, do the things that you feel you’re good at. And be as supportive as you can to Boris.”

source: Matthew Weaver

Levant

Covid cases in England 'must fall faster to ease NHS pressure' UK plan to build 24,000 homes faces legal challenge

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.