Right, deep breath everyone and we’re off. We’ve finally started the journey into Brexit World. If you thought The Lord of the Rings Trilogy was long, then you’ve seen nothing.
Spedan Ltd is non-political, first and foremost. Apart from a deep rooted sense of social justice and passion for doing a good job, we have no political leanings. Therefore, we’re going to focus on the risks and opportunities for business and organisations in the context of Quality, Environmental and Ethical issues.
We’ve done three blogs already, which have been read by many more people than we ever expected, so now we’re taking this seriously. Brexit poses opportunities and risks like we’ve never seen. It’s important that we all take part in the discussion because it’s probably the first time for years, and I’m talking way before Dunkirk that we have truly stood alone with the world waiting to see what move we’re going to make. We are all in this together.
The last few weeks may have been quiet but there have been some gentle soundings about what we can expect. The government is taking it’s time to make a move. Given the politics around the vote, it’s probably a right move. The rest of Europe is not exactly in step with each other, despite the conservative view of the EU. Merkel, likely to win the next election has had a few bruises in recent local elections in Germany and even today, there have been good results for the anti EU parties in Rostock, Northern Germany (See here).
So what are the possible risks and opportunities? We've been debating this long and hard, and the best that we can glean at the moment is the following:
- Financial: The Exchange Rate is not great for buying from abroad, so purchasing costs are going up.
- Labour: With instability in the labour markets, there may be a move for foreign labour to choose other markets. UK labour is going to be more expensive
- Investment on hold: Until decisions are made, some of the decisions concerning capital projects that help to drive the cycle of trade may be on pause.
And the opportunities?
- Instability: For the more entrepreneurial amongst us, instability creates selling opportunities - Sadly I'm not clever enough to know what they are otherwise you'd be buying from us!
- New markets: Perhaps with a focus away from Europe, we could be opening up to other countries to trade with?
- UK Market: With a renewed nationalism, perhaps the #TeamGB brand could be used on our products and services to a premium?
Over the next few weeks, we'll keep the debate going as we learn more. We'll look at how these risks and opportunities are playing out in organisations and how you can feed them into your management systems. If you want to share anything with us, please do so. enquiry@Spedan.co.uk.