What now from Brexit?
Two years on from the vote and nobody still knows what will happen. The only certainty is it will never be the same again. Since the creation of the single market and before we have enjoyed a strong relationship with the Sterling area. There is hope that we may get some concessions from the negotiations but there are many reasons to believe that these could be minimal. As an example, Finland suffers significantly from sanctions placed on Russia but still they get no material relief from the EU.
It will be a long time before a coherent strategy emerges from the UK. Not only is it divided at regional level but also there is a significant divide of North England from South England. London’s enormous gains from European integration are the most at risk from Exit. So whoever is negotiating for the UK is going have to deal with the substantial counter-demands from these two regions with London looking for compromises and regions looking for no concessions. London’s importance to the UK economy is very significant in terms of activity, employment and taxes.
From the EU perspective the key priority will be to show that membership has significant benefits. Otherwise others may feel they can be better off outside. There will be little mood for compromise.
So what is the best strategy for your business?
The best strategy is to expect no favours from the exit process. If they come be sure you can take advantage; if they don’t you will be stronger than your competitors.
Take control of your future; minimise risk particularly when it’s not your core, diversify sources of supply and customer markets. Lastly – look for those opportunities.
A few small steps for all: