Regardless of whether you voted ‘Leave’ or ‘Remain’ in the EU referendum on June 23rd, I’m pretty sure that no-one expected that we would have a new Prime Minister, newly restructured cabinet and a new leadership battle in the Labour Party… I’m exhausted just thinking about it!
What does Brexit mean for the self-employed/small business owners?
So what does Brexit mean for us – the self-employed and small business owners of Britain? Well, at the moment, it isn’t really clear what it does mean for us, given that the exact terms of Britain’s exit from the European Union have not been discussed, let alone finalised! There are reports of some companies already laying off staff, raising their prices and scaling back on investment plans (source: Financial Times https://next.ft.com/content/c5782176-436d-11e6-b22f-79eb4891c97d) though it is likely that these are businesses that:
a) Rely heavily on the freedom of movement for skilled European workers;
b) Import/export or rely on good exchange rates;
c) Rely on tourism/foreign visitors – many of whom could be ‘put off’ visiting by the perceived racial tensions described on the news, which are hopefully not as widespread as the coverage may suggest.
What should we do in the short-term?
For all other businesses, although this is a period of uncertainty, it is difficult to justify any rash decisions until we know more about the exact details of our withdrawal from the EU. So what should we do in the short term?
Let's build positive bridges!
I think a key aim for everyone (regardless of their employment status, the way they voted in the referendum, or their nationality) should be to build positive bridges with our friends, neighbours, business associates and other self-employed workers/small businesses. The Brexit debate and outcome has split the country, ‘in’ against ‘out’, ‘young’ against ‘old’, the Welsh and English vs. the Scottish and N. Irish; many people feel alienated or ‘let down’ by the UK - particularly hard-working, skilled workers from the continent who may feel as though their contributions to UK growth and success have been completely devalued. So let’s build bridges, let’s work together where we can and help to make UK Entrepreneurs THE British example for a community who support each other, value each other's skills and find success together!
And that’s all I can really say on the matter at the moment! The outcome of the EU Referendum, though a shock for many, has been determined, so all we can do now is start to work together to achieve a positive future for the United Kingdom (and hope that Boris doesn’t accidentally insult any foreign leaders in his new position as Foreign Secretary!).
Have a lovely weekend, ladies and gentlemen!