Post Brexit: What Now for the UK?
It has been perhaps the most seismic political shift the UK has experienced in recent years. At the end of June, after a rather controversial and disappointing set of campaigns, the British public voted to leave the EU. The shock waves were felt immediately. David Cameron resigned as Prime Minister within a few short hours, the recriminations began, the pound plunged and for a moment everyone thought we were all heading for political and societal Armageddon.
Just over a month on and things have settled down, though there is still plenty of uncertainty about what is going to happen in the future. The pound is still fragile and a number of business have reported they lost valuable contracts with their EU counterparts because of the Brexit decision and the subsequent uncertainty. Others have seen an upturn in their profitability despite the fact that nothing legislatively has changed yet – a sign that during any momentous events there are always winners as well as losers.
The truth is that the sky hasn’t fallen in, of course. Most of us are still doing business and things are moving on. Yes, there are some businesses that are putting off new investments as they play a wait and see game. It’s only natural. But products still have to be sold, services need to be offered and business plans implemented. At ISL we’re still being contacted by businesses who want to improve their printing processes and reduce costs.
The Brexit effect is undoubtedly going to reach across all sectors at some point, from small and large businesses, organisations like the NHS and our schools and universities to name just a few. That doesn’t mean things should come to a juddering halt. Investment in new technology can still bring great savings and improve productivity. While there might be funding issues on the horizon for organisations such as the NHS, there are still administrators looking to make the most of their current budgets and improve their operational procedures so that they deliver cost savings and improvements in practices.
Businesses are still making decisions on how they implement their future growth plans, despite the inevitable uncertainty and, where they can, are investing in new technology such as the latest multi-function printers and software that can revolutionise their office and sales processes. Most businesses understand that we can’t stand still and play that wait and see game – things carry on as in all aspects of life.
Many businesses may be looking forward to getting rid of all that red tape that was a major part of their gripe with membership of the EU. What it will be replaced with still remains to be seen. Most are hoping that it will allow them to work more effectively and implement more imaginative growth plans for the future. All are waiting to see what will happen next but with estimates that it could be a good four or five years before we see what a true post-Brexit world actually looks like, the only real option is to carry on with business as usual.