Have you made any short-term preparations for the potential impact of Brexit?

Discussion in 'International Business' started by ChrisGoodfellow, May 27, 2016.

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  1. ChrisGoodfellow

    ChrisGoodfellow UKBF Regular Full Member - Verified Business

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    Has anyone made any contingency plans for what would happen to their business in the weeks or months after Brexit?

    At the moment, we hear the holding back investment-narrative in the media a lot and I'm sure that there's been some impact, but I wondered if you're doing anything like trying to diversify client base, looking at new markets, writing contingency plans etc?
    Posted: May 27, 2016 By: ChrisGoodfellow Member since: Jul 10, 2014
  2. simon field

    simon field UKBF Big Shot Full Member - Verified Business

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    Nobody I've spoken to thinks anything will make any difference. Me either.
    Posted: May 27, 2016 By: simon field Member since: Feb 4, 2011
  3. fisicx

    fisicx It's Major Clanger! Staff Member

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    I've brought a flag to hang outside for when we finally leave.

    As an aside, my last two clients have been in the USA. They couldn't care less about Brexit.
    Posted: May 27, 2016 By: fisicx Member since: Sep 12, 2006
  4. Raw Rob

    Raw Rob UKBF Enthusiast Free Member

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    I heard that even if the vote is to leave, nothing will change immediately, it will take up to two years to negotiate new agreements.
    Posted: May 27, 2016 By: Raw Rob Member since: Aug 1, 2009
  5. Gecko001

    Gecko001 UKBF Enthusiast Free Member

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    I think it will make more difference than most people think it will. Customs posts at ports and airports will have to expand. Land custom posts will return (i.e. the land border between the UK and Republic of Ireland).

    There will be another Scottish referendum. No comment.

    Countries who presently are quite used to importing from the EU and understand EU product compliance standards will have to educate themselves about UK compliance standards. Some might not want to do this, others might not and instead opt to buy from the 21 countries left in the EU.
    Posted: May 27, 2016 By: Gecko001 Member since: Apr 21, 2011
  6. Scott-Copywriter

    Scott-Copywriter UKBF Legend Full Member - Verified Business

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    Business-wise, not much. Given that the vast majority of my client base is in the UK, there's not a huge amount I can do. The world will obviously keep on turning whatever happens, but I do expect a recession if we leave, which then has a knock-on effect on what businesses (i.e. potential clients) can afford or are willing to spend.

    On a more personal level, I have holdings in the stock market, and I am avoiding any investment in UK businesses for now as the shock of an exit would no doubt cause the markets to tumble. They are extremely sensitive to what's going on at the moment. The pound even declined on the day that Boris Johnson announced he was backing Brexit, so just imagine what an official exit would do.

    I will certainly not be alone in doing this. The uncertainty is just far too risky.
    Posted: May 27, 2016 By: Scott-Copywriter Member since: May 10, 2006
  7. Gecko001

    Gecko001 UKBF Enthusiast Free Member

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    Not on a personal level but on a business level, that reminds me I am working presently for a client in one of the other EU countries and I will be leaving the sending of my invoice, which for this client I always make out in Euros, until after the vote.
    Posted: May 27, 2016 By: Gecko001 Member since: Apr 21, 2011
  8. Carl "Excel-Expert" Nixon

    Carl "Excel-Expert" Nixon UKBF Regular Free Member

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    None of my European or US clients seem concerned about it in the slightest.

    Personally I think we will see stock market and exchange rate blips at key stages. The first will be June 24th and the next will be in roughly 2 years time when the exit process is completed. We will see others as new trade treaties are signed or abandoned.

    Most of the benefits or losses wont happen in the near future, it is more of a long term game. For example if there is a brexit, it wont have an immediate impact on immigration - we may even see a rush before we put any measures in place. All the immigrants that are here in the UK already, cant be deported due to other treaties. So it will take population trends etc to play out
    Posted: May 29, 2016 By: Carl "Excel-Expert" Nixon Member since: May 14, 2016
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