Business Life After Brexit
None of us knows what the next five years will bring now that the decision to leave the EU has been made, but what we can do, as business leaders and individuals, is place ourselves in the best position to weather whatever may be ahead.
We have little control over what happens next, but what I know is that we should…
It’s up to us to become more financially aware so that we can make decisions about what is best for our businesses in the time ahead. Read the financial pages and The Economist and instigate conversations with your staff about what’s happening. Many people are complaining that they didn’t know what was going to happen post-vote and are startled by all this uncertainty, but the knowledge of what could happen if we left the EU was all out there. We owe it to our staff and customers to be as educated as possible and share that knowledge.
The truth is we don’t know what is going to happen and it could actually be good, especially if we are determined to make it so. Now is not the time to panic, but instead stay calm and wait to see the lay of the land. There is no need to rush into making any big decisions. As the months go by it will all be unravelled and then we will be more informed. We are not going to stop trading with Europe overnight. They will certainly want to make sure we keep buying their luxury goods, food and wine and foreign investors are still attracted to our economy.
Above all, don’t let the media whip you up into a panic.
Take Professional Advice
If you employ EU staff then now is a good time to start shopping around for an immigration lawyer who can keep you to date with any needs to get Visas or work permits. Reassure your staff that you’re looking after them and working to keep them with you.
Look to New Partnerships
One thing this will do is open up new markets and make it more likely that trading with countries from Africa and South America become easier and more attractive. Perhaps this will also start to redistribute some of that wealth to the people who really need it at the same time. Don’t forget that the current position of the pound make our products and services extremely attractive to the overseas market and could be the perfect opportunity to start forging stronger bonds further afield.