Some of the effects of Brexit on business

Brexit on Business

There are many things that can have an impact on businesses, some of which are positive effects and some of which are negative.

One thing that has been dividing both the general public and the government in Britain and beyond over the past few years is Brexit, and it has been a turbulent time since the British voted in favor of leaving the European Union.

Naturally, this has raised concerns for businesses over the impact of Brexit on their success levels and ability to operate. Whether you run a retail business that sells clothing and accessories, a travel agency that arranges trips and excursions, or even a security company that provides bodyguards in Paris and around Europe, the turbulence surrounding Brexit is bound to raise concerns.

No Customs Union

Concerns among businesses

The controversy and turbulence over Brexit have even led to the British Prime Minister, Theresa May, having to throw in the towel and hand over the reins to someone else, so it comes as no surprise that business owners are very concerned. It is impossible to determine what the effects will actually be when Brexit finally happens, but there are certain implications that experts have highlighted in various reports.

One thing that seems to be evident is that a lot of jobs in the finance sector will be created elsewhere in Europe. However, it remains to be seen whether these jobs will be created in addition to existing ones in the UK or whether they will replace ones in the UK.

In addition, there have been a number of firms including big names such as Ford that have announced job cuts and have cited Brexit as one of the reasons, but officials have been quick to point out that this has been just one of the contributory factors rather than the only factor.



Deal or No Deal?

Unfortunately, the path to Brexit has not been a smooth one, which has made it all the more difficult to determine the impact upon businesses.

Bollocks to Brexit

It is thought that many businesses may have put plans for expansion or reduction on hold until more is known about the future of Brexit. However, a BBC report did point out that business investment had stagnated and was ten percent lower that experts had forecast before the referendum took place. Having said that, experts also states that business investment had been slow ever since the financial crisis of 2008, which means that Brexit is most likely only one of many contributing factors.

Sadly, some British companies have already made changes with regards to their headquarters, which is certain to have an impact on the British economy. This could be in a bid to overcome any customs issues that may arise once Brexit does go full steam ahead as well as a variety of other reasons.

In short, it is difficult to predict what the exact impact will be, particularly with the ongoing delays with Brexit. However, many businesses are putting plans for the future on hold until more is known.