We're out - what does it mean to you?

[japancool]

So we voted out. What effect will that have on your business?

 

[threenine]

To be honest, I really don't know. Personally I think initially I'm going to have to deal with 2 years of uncertainty, which I'd have to deal with anyway, as the only real certainties in life are death and taxes, and even those a variable

 

[japancool]

For us, we're an importer and the drop in the exchange rate has an immediate effect. When I got it, the £/yen exchange rate was 135/£, but it's now improved to 141/£, so there's a lot of volatility.

 

[Annoying Donkey]

Most of my business is abroad, outside of EU anyway... Fall in pound is good for me, albeit I suspect temporary...

 

[MikeJ]

Made about £30k on selling our dollars and euros. Lost about £100 when I come to buy the ones I need for my holiday.

 

[JEREMY HAWKE]

I dont like it there is nothing I can do about . I will look at what we have got and how we will have to do things differently. I think in the future it will be more work and more expense sending vans into Europe this will be passed on to the customer.
Both long and short term I am concerned about demand in general I have seen recessions before and have learnt how to make adjustments.
I am guessing a lot of capital spending maybe put on hold at large companies and PLcs

 

[Chris Ashdown]

We were the first country to have real democracy and we gave it away for a political dream that was corrupted by dreamers rather than common sense and democracy. We have now gone back to our natural routes of a Democratic country

Some people will loose a lot of money in betting on money and companies this week but most will get back to their same position within a week

The only thing to fear is fear itself, as a Country we can look after ourselves and grow and hopefully with a new PM get rid of that stupid Government aid law and make every penny spent in future only go to places where it really needed and spent in a wise way

Good Luck to you all and may the Union remain

 

[Deleted member 59730]

A sad day.

What it means to me, and everyone else who thinks about it, is a dramatic drop in my pension, money in my pocket and savings in my bank account. It means i now live in a non-caring right wing country. I will probably spend a lot more time in France and other parts of the world.

 

[woodss]

Sod off then.

ME ME ME ME ME .. bloody money.

 

[Chris Ashdown]

What makes you say all that when you know nothing of what will happen in the future good or bad and if we had stayed in or out

There are hundreds of independent countries around the world that survive well on their own, As a country our wealth has not changed overnight and could go either way in the future but at least its driven by our elected countrymen and not by a set of commissioners who are not answerable to anyone and can treat other countries in the EU like dirt take Greece for example

 

[japancool]

A sad day.

What it means to me, and everyone else who thinks about it, is a dramatic drop in my pension, money in my pocket and savings in my bank account. It means i now live in a non-caring right wing country. I will probably spend a lot more time in France and other parts of the world.

I prefer a country that's fair to everyone in the world, that doesn't give preferential treatment to Europeans just because they happen to have been lucky enough to be born in Europe - because frankly, that's a discriminatory and yes, racist attitude.

 

[KM-Tiger]

It means i now live in a non-caring right wing country.

I don't believe that. This wasn't about left versus right but about democracy.

Kate Hoey, Gisela Stuart, John Mann, Frank Field. Do those names mean anything to you?

And Tony Benn and Bob Crowe, though those two were not alive to see their dream realised.

 

[threenine]

Personally, I really don't buy all that Sovereignty and Democracy garbage. What I do buy, is that it Nations i.e. People, working together make change happen.

One thing I have learned as a entrepreneur , self employed , business owner , what ever you call it these days. Is that ensuring you have strategic partnerships and the ability to work within larger environments is essential to survival. 100% of relationships are give and take.

Establishing any businesses is a lonely existence. If you walk away from a deal or partnership it's best to have some real plan to move forward. As far as I can tell we don't have a plan, we've had a lot of hot air from both sides. Dreams, aspirations and conjecture but very little concrete plans.

I have stated before, I never really bought the arguments from both sides, as both had drawbacks, but overall I preferred remaining within EU, although flawed, it was continuing to evolve. I do believe that for the future or our planet the Human race needs to evolve away from the nationalistic ideals and patriotic thinking, and we need to work together as one Universal entity.

The way I see, having total control over a little island off the shores of larger continent, on a little blue ball in the vast darkness of space, is fundamentally pointless.

What's the next step now do we leave the United Nations, the G8 etc, because we believe those ideals are also pointless. We can't even work together as nations to resolve the fundamental planetary survival.

I still believe the whole Leave campaign was about taking a Britain and international thinking back a 100 years! Despite my beliefs I am happy to be proved wrong and for the benefit of human race in general I hope that I am.

 

[Chris Ashdown]

I doubt many would disagree with the need to unite but can you ever see the EU Parliament and its sub parties ever changing to a democratic institution from 28 un-elected Dictators

it needs a new union between the closer knit 7 or 8 north European countries as a market but each remaining total sovereignty, you cannot make a federal state out of vastly different values

 

[Carl "Excel-Expert" Nixon]

Most of my business is abroad, outside of EU anyway... Fall in pound is good for me, albeit I suspect temporary...

I'm in a similar boat. Half of my work comes from abroad.

If you are supplying goods or digital services abroad, there is an opportunity there. How long it will last is another question.

 

[bharris]

Am i missing something, just looked at the pound v euro & dollar and it is at a higher level than it has been for most of the year, the FTSE 100 is almost at a high for the year. Yet reading the comments above, listening to the news i thought everyone's bank account had been erased overnight. You shouldn't look at the markets and make a major decision based on a singe days trading. But what do i know i lost my shirt a few years ago...... Just don't listen to the hype and just look yourself. (its probably totally collapsed since i started to write this.....)

 

[JamieM]

Am i missing something, just looked at the pound v euro & dollar and it is at a higher level than it has been for most of the year, the FTSE 100 is almost at a high for the year. Yet reading the comments above, listening to the news i thought everyone's bank account had been erased overnight. You shouldn't look at the markets and make a major decision based on a singe days trading. But what do i know i lost my shirt a few years ago...... Just don't listen to the hype and just look yourself. (its probably totally collapsed since i started to write this.....)

Not sure where you are looking but the pound has definitely suffered a significant drop. Try www.xe.com

 

[MikeJ]

You calways pick a point to make a comparison with, and claim anything. There's no doubt the drop in Sterling and the FTSE today is due to the poll result. How much of that is because of the long term strength of the country or due to the short term uncertainty is unknown.

 

[threenine]

EU Parliament and its sub parties ever changing to a democratic institution from 28 un-elected Dictators

Really! I can't believe this myth has persisted. The naivety literally astounds me and really does highlight the absolute ignorance of a vast majority. AL

However, we are we are. A decision has been made, by a majority that I completely disagree with, it's not the first time in my life, and it's not going to be the last.

The fact that we have spent the best part of the last 8 years recovering from the ignorant and ill informed decisions of the masses. I resign myself to yet another 8 years. I have survived the last 8, by going against the grain, and I will probably spend the next 8 doing the same.

I really can't see any strong leaders at present, who will guide this so called drive to sovereignty and democracy.

Anyway, now that the day and decision has finally arrived, and really we just have to deal with whatever tomorrow throws at us. I've had my say, others disagree, and I am fine with that.

 

[Mr A P Davies]

I can't imagine the medium term effects of the economic turmoil having a great deal of effect on my business. I'm not exactly an international player, most my customers are not either. As with most of these crisis, it sort of bypasses Wales. Never gets the good times, nor much of the bad.
Deeply ironic how Wales has taken so, so, much, delivered so little back, and still it's populace voted out. Talk about biting the hand that feeds you.

Long term, I will be very surprised if this is anything but an unmitigated disaster for Britain.
The squabbling and disagreements over what is "out", or not quite out enough, or if we maybe should stay in a little bit, coz it'll be good for the economy, will take so long to sort out, the effects will be hanging around for a generation.

Added to which, there was a big turn out. Almost half the electorate doesn't want to play this game.
To the Leave brigade, getting back some rosy idealistic notions of sovereignty, and self government might be worth years and years of turmoil and uncertainty. For the less passionate, they may have just preferred a certain amount of stability.
I can see how that combination could start causing some quite serious problems.

 

[bharris]

Not sure where you are looking but the pound has definitely suffered a significant drop. Try www.xe.com

Only if you look at today in isolation, go back to about April and the current value is higher in reality its pretty flat. Go back to dec/jan 2008 when there really was a major problem with banking etc. you can see that the brexit effects are almost a non-event. Don't look at a single day's value and come up with conclusions practically if there has been a heavy rise over the last few days.

 

[Chris Ashdown]

Really! I can't believe this myth has persisted. The naivety literally astounds me and really does highlight the absolute ignorance of a vast majority. AL

However, we are we are. A decision has been made, by a majority that I completely disagree with, it's not the first time in my life, and it's not going to be the last.

The fact that we have spent the best part of the last 8 years recovering from the ignorant and ill informed decisions of the masses. I resign myself to yet another 8 years. I have survived the last 8, by going against the grain, and I will probably spend the next 8 doing the same.

I really can't see any strong leaders at present, who will guide this so called drive to sovereignty and democracy.

Anyway, now that the day and decision has finally arrived, and really we just have to deal with whatever tomorrow throws at us. I've had my say, others disagree, and I am fine with that.

Perhaps you can tell me what is wrong, did you ever vote for a commissioner, No your PM sent someone who they did not want in government to be the one

Do they take minutes of the commissioners meetings for record = No

Do the EMP's have any real power No

Ignorant you don't even know me yet you insult me,

Maybe you just have never lived in a democratic country so do not understand what you had lost or the meaning of accountability

 

[threenine]

Do they take minutes of the commissioners meetings for record = No

Perhaps you can tell me what is wrong, did you ever vote for a commissioner, No your PM sent someone who they did not want in government to be the one

Do they take minutes of the commissioners meetings for record = No

Do the EMP's have any real power No

Thank you for the response. It really did make me laugh!

I don't think I ever insulted you directly, I feel I made a comment on the naive and ignorant viewpoints displayed by a majority. Never directly attacking or insulting you.

The fact that I do live in a democracy and am entitled to have my own views and express them is perfectly valid. I never felt that these rights were ever impaired by membership of what you seem to refer to as a dictatorship.

We have had elections for MEP's, although for vast majority voter turn out for these was always low.

The European Parliament is made up of MEPs from all 28 EU member states, each elected using various forms of proportional representation (unlike the House of Commons, which is elected through a widely criticisedfirst-past-the-post system.

If you have taken direct offence, because I have argued against the substance of your argument, then I can only apologise. However, this is the luxury that has been provided to not only me, but everyone in a free and democratic society.

 

[KM-Tiger]

The European Parliament is made up of MEPs from all 28 EU member states, each elected using various forms of proportional representation (unlike the House of Commons, which is elected through a widely criticisedfirst-past-the-post system.

But the problem is that unlike the UK parliament where the HoC is supreme, The European Parliament is not. The real power is held by the unelected Commissioners. The UK has just one Commissioner. Anyone know what his name is?

As regards FPTP, we had the opportunity to change that, but a referendum turned it down, sadly.

 

[tony84]

Ive got 20,000 hungarian forints, thats probably worth about £20,000 now rather than £20

I think I will be fine assuming the money markets do not dry up. People still want homes, there is a shortage so the demand should be there even if in the short term there is a bit of a drop in house prices.

It may mean that foreign investors stop buying up houses and allows people renting to buy their own home? In reality though, nobody has a clue do they. If everyone carries on as normal we should be fine. If however people start panic buying baked beans and petrol and keeping their money under the bed then we are screwed.

 

[threenine]

UK parliament where the HoC is supreme

HOC is not entirely supreme. The house of Lords has to approve too.

 

[Deleted member 59730]

It may mean that foreign investors stop buying up houses and allows people renting to buy their own home?

What they will have done is taken their money out of the market and then buy back in when the pound and prices drop. That means that investors, foreign and domestic will buy more homes.

 

[KM-Tiger]

HOC is not entirely supreme. The house of Lords has to approve too.

The govt can use the Parliament Acts if needs be. They are rarely used, but can be, so HoC is supreme.

https://en.wikipedia.org/wiki/Parliament_Acts_1911_and_1949

 

[Newchodge]

What does it mean to me? Sadness and fear.

 

[Clinton]

What does it mean to me? Sadness and fear.

You're not alone. There are many frightened people out there today. I hope none of them do anything silly.

 

[richofwombwell]

As my income isnt really dependent on my location I was hoping to run my business from the south of france or the canaries where my money stretches a little further and bring my children up in a more liberal environment than that that exists in the UK. I am unsure as to how i will be able to run my business from france or spain when the free movement of people is shut down.

 

[Pish_Pash]

Today is a very good day...I'm elated.

Due to GBP (rightly) getting rogered, my business model (importing/retailing) is in now in tatters (& perhaps even my business), but - genuinely - my happiness transcends that.

 

[Gill Fernandez]

Let's not get carried away by the media hype. Sterling exchange rate against the Euro was worse in 2008 and the stock market is back to where it was roughly a week ago. Yes we are in for some changes but nothing stays the same in life and business. We will be ok if we stay calm and carry on.

 

[threenine]

Sterling exchange rate against the Euro was worse in 2008 and the stock market is back to where it was roughly a week ago

Totally different set of circumstances to be honest. Not saying Sterling won't recover.

Similarly though the BOE has had to step in

 

[Gill Fernandez]

Indeed, but the point is we got through that and we will get through this.

 

[Alan]

I am unsure as to how i will be able to run my business from france or spain when the free movement of people is shut down.

It will be similar to emigrating elsewhere in the world (Canada, USA, Australia etc) , if you can prove you will make positive contribution then you will be welcomed. If not ... well

 

[Scott-Copywriter]

The fact that we have spent the best part of the last 8 years recovering from the ignorant and ill informed decisions of the masses. I resign myself to yet another 8 years. I have survived the last 8, by going against the grain, and I will probably spend the next 8 doing the same.

In my honest opinion, I think the ramifications of this will be felt for at least 30 years. Perhaps more.

It's going to take us decades just to get back to the same global trading arrangement we had by being members of the EU. In the mean time, the UK will suffer as a result of this vote.

We simply do not have the resources or the time to do this entirely on our own at any sort of reasonable rate whilst every other country around us takes advantage of the established trade deals they've already got.

I strongly suspect that we will join some sort of large trading bloc in the medium term. We may join the EEA, NAFTA or even latch on to TTIP without any actual say in it whatsoever.

With the world gradually moving towards large trade blocs like the EU, AU, USAN, AFTA, AL, NAFTA, CEFTA and others, we really were the golden child of the global economy. All the benefits of a key power in the world's largest single market with more opt-outs and more control than any other member. Now we've thrown that away.

As the global economy continues down this path, it will become gradually more clear how just how fortunate we were to be in that position.

 

[Chris Ashdown]

We have not thrown anything away, we have just stopped banging out head against a brick wall, just like you as a individual, cannot effect how BP or your electricity company acts or charges you

The EU is a broken animal, that was made with great expectations, but left to run amok, and chase a dream of federal states, so incompetent it could never balance its books. As it grew in size, grabbing every poor country it could, the power of the larger countries grew less and less, making decisions near impossible, except by the dictatorial powers of the commissioners who are unelected

Trade will continue world wide without any problems, there may be slight tariffs either end, but currency fluctuations will be, and always have been the biggest problem to both importers and exporters, every country in the world wants to trade with someone and nothing will change until both countries want a change

Since magna carter we have fought for democracy and only in the last 40 years have we given it away on a dream that just did not work

 

[threenine]

Since magna carter we have fought for democracy and only in the last 40 years have we given it away on a dream that just did not work

This makes it sound as if Britain is the only country in the world that allegedly fought for democracy. I think this is a really warped sense of what democracy actually means. Europeans on the whole have had a shared desire of democracy.

I don't think this in any shape or form in the aid of democracy , rather a nasty concoction of nationalism and patriotism.

 

[Clinton]

The EU is a broken animal, that was made with great expectations, but left to run amok, and chase a dream of federal states ...

I agree.

But after thinking about it a bit I've come to the conclusion that truly free trade between nations cannot happen without some political integration. (I'm not saying that's a good thing, simply that it's a pre-requisite for maximising trade benefit)

Trade agreements on their own may decide tarrifs, or lack of them, but to maximise that trade you need:

- freedom of movement, the ability for businesses to send staff back and forth freely, station staff abroad etc. Small businesses would also need this to attend conferences, cross borders to find suppliers ...

- Other agreements: People who are stationed abroad will fall in love and get married to foreign nationals and take up permanent residence, get ill and need treatment at a foreign hospital etc. Can't happen without agreements. Even everyday stuff like acceptance of each other's driving licences is needed to minimise friction.

- harmonisation of government subsidies and taxes so the businesses of a particular industry in one country don't have an unfair advantage over similar businesses across the border (or unscrupulous people would create an unfair advantage to destroy an industry across the border to give themselves a monopoly position). This is closely connected with environmental issues.

- standardisation: From a trade perspective it helps if everyone is using the same units of measurement (and currency). Standarise a widget's shape and size and consumers across the free trade zone benefit from economies of scale in the manufacture of that widget. Whatever the other arguments against harmonisation and standardisation, they help trade.

- legal convergence: Again, simpler and cheaper for businesses to have common laws they need to work within, whether that's on human rights, employment or regulation.

Politicians over the years signed us up into more and more of that integration, but they did so without co-opting public support .. and without explaining the pros and cons. Further, the EU brought about some of that harmonisation by the back door which didn't help attitudes and feelings towards them.

It's a sad state of affairs if, according to the polls today, a few million Brexiters are regreting their decision and would vote differently if asked again. The video posted here of a young lady who voted "Out" so she doesn't have to watch the Euros football next year may or may not be true, but it's not far off the reasons posted elsewhere which include video interviews like these:
"I voted out because I don't want no more Muslims coming to this country"
"We should take back control of our borders so all the black criminals from Africa stay in Africa"