11 Reasons for positivity as the dust settles on brexit

11 Reasons for positivity as the dust settles on brexit

So, Brexit, is here. There is shock and surprise at the outcome of the vote but the leavers were at least right about one thing, namely that the sky has not fallen on our heads. Business must go on and although there will be challenges ahead there will also be opportunities for businesses large and small.

 

Here are 11 thoughts and my reasons to stay positive as we approach what will undoubtedly be a sustained period of change.

 

While in the medium to longer term details of trade and other relationships will undoubtedly be impacted, some fundamental things will stay the same:

 

  1. The UK is and will remain the largest e-commerce country in Europe by far, in size equal to France and Germany together. It is also the fifth largest economy in the world, and will continue to be a part of Nato and have a seat on the UN security council;

 

  1. The central financial and fiscal management is exceptionally strong . The national debt as % of GDP has been brought down from 11%  6 years ago to 3%. In other words the UK economy is one of the healthiest in the Western world;

 

  1. The continent will continue to be the main trading partner for the UK, and the UK one of the main trading partners for the countries of Europe. The fundamentals of the economy and trade will not change;

 

  1. This was not a vote against working together with partners across Europe and the world, not a vote against other people - rather a vote against an institution many people had lost faith in, it is a wish to work together differently;

 

  1. The more structural things like trade agreements will take a few years to sort out. Until then existing deals will remain in place;

 

  1. Based on the Norway and Switzerland examples it is likely that by far, most rules and regulations will remain the same as within the EU and that free movement of people will continue in some form or other;

 

  1. All parties including the EU and UK will have a strong interest in making any changes smoothly without affecting international commerce;

 

  1. The UK has always been on the periphery of Europe, not only in a geographic sense. It is also the one country with its own currency, so in that sense nothing is changing;

 

  1. While in the short term the pound will stay lower against the Euro and potentially affect your selling price, local competitors now will have to pay more for imports - putting upward pressure on their prices too;

 

  1. English is still the dominant language of e-commerce and a great UK web shop will continue to be a great shop window to the world;

 

  1. You have and will continue to have a stronger team in the UK standing ready to respond to any opportunity and deal with any challenges.

 

After the dust has settled, I expect the reality could well be a scenario where it is mostly 'business as usual' within a trend of well-managed change. No doubt there will be surprises, but these might create as many opportunities as challenges for our countries, our companies and teams. Let’s keep a close-eye on developments and be ready to respond to these and move things forward positively whilst working together even better.