Always look on the bright side of...
25 July 2016
The Bright Side of Brexit
It’s roughly a month, since the UK bid au revoir to the rest of Europe. As we watched the value of the pound literally fall of a cliff, it’s fair to say the UK hasn’t been an entirely happy place. But, since the sun has finally decided to show its face, we thought it was about time we all looked on the bright side of life. So, we’ve found a few positives for small businesses to take from Brexit.
Small Businesses Rise Up
You’ve probably read all sorts of tales of businesses packing their bags like belligerent teenagers and heading off for a new life with their European friends. It’s fair to say that our exclusion from the EU single market could lead to taxes and tariffs being applied to UK exports - hence the dash for the continent. However, the exit of some of the bigger players from the UK could give small businesses that focus on UK markets a chance to rise up. So don’t hold back.
Take Stock and Come Back Stronger
If, like many businesses, you’re hiding behind the sofa and waiting for the fallout to settle before you stick your head above the parapet, there are a few ways you can use your time wisely. Whilst you might want to hold fire on any major decisions, now is a great time to put your own house in order. Spend time looking at the areas of your business that are doing well and those that aren’t. Look at your brand and your core messaging to make sure they really are fit for purpose.
Look for Pastures New
Now the ties with Europe have been loosened, it could well be easier to win trade deals further afield. With greater freedom, those opportunities you’ve wanted to pursue in North America or Asia could be easier and quicker to push through. Perhaps you’ve never even considered spreading your wings that far- but why not give it a go?
No More Red Tape
We’ve all had a pop at the EU over the years for its excessive bureaucracy. But now we’ve cut the apron strings, we’ve also cut the red tape. Leaving the EU could well help to free us from regulations which have disproportionally disadvantaged SMEs over the years. The creation of a fairer playing field could help everyone.
An Extra Helping Hand
It’s in everyone’s interests for business to flourish. The Bank of England have kept interest rates low and, according to some reports, there may be as much as £150bn up for grabs to help British businesses go from strength to strength. We could all do with a little more investment, so look out for extra loans, grants and opportunities to boost your business.
A lot of companies have, understandably, been cautious with their marketing budgets as a result of Brexit. But as others scale back their activities, the door is wide open for you to step right on in. The fact is, whilst the political landscape has changed, your customers haven’t. People continue to eat, sleep, shop, put out the rubbish and moan about the British weather. And they still need your products. So, if your competitors are battening down the hatches, make sure you’re out there talking to your customers.
Remember We’re British
Whether you’re happy or not with the outcome of the EU Referendum, we need to remember that we have really strong foundations in place. The UK has a history of being innovative, resourceful and creative. Our imagination and desire for success hasn’t been quashed. So perhaps we all need to do the very British thing – keep calm and carry on.
We’re always here to help you find and make an impact on your clients and customers. Just give us a call, send us an e-mail or pop into the studio. We promise we won’t bore you with politics.