On Thursday 23rd June 2016 the United Kingdom held a referendum to stay or leave the European Union with a turnout of 72.2%, the electorate voted 51.9% to leave and 48.1% remain with an impressive turnout of 30 million people voting.
As the E.U gasped with disbelief of many people in the U.K the business sector appeared to be like rabbits caught in head lights, the U.Ks position was clear as mud on both side of the argument.
Once article 50 had been triggered there was no turning back so the discussion and highly charged debates became news worth as the politicians dissected the facts according to which side of the fence they themselves were on.
For the business fraternity it was business as usual as we carry on with this sword of Damocles hanging above, immediately confidence weened but with true entrepreneurial spirit businesses took the view no matter what the negotiated agreement U.K Ltd will adjust to the new markets or existing market conditions whatever the case maybe and react appropriately, (of course) why because we can.
UK businesses will always adapt to accommodate changes only history will prove us to be right or wrong in our decision to leave the E.U.by which time they will have made the movie.
The art of any negotiation is to be firm but fair in trying to agree a new set of rules and if the E.U and the U.K fail in achieving that arrangement we will be left with no option but to register a FAILURE TO AGREE or FAIT ACCOMPLI.
Businesses cannot afford to sit around and wait for the politics of the day to provide an answer, as we quickly approach 23.00hrs on 29th March 2019 when we officially leave the E.U.
Historically the U.K has relied on the exporting and importing of goods and knowhow, as a trading nation that’s what we have proven to be good at. On the domestic front employment and prosperity are the key to any countries wealth and to have that feel good factor of confidence is so important.
Back in 1973 the United Kingdom joined the European Economic Union, in 1975 a second referendum was called on continued membership voting 67.2% remain to 32.8% to leave the Common Market “How the tide as changed”.
The U.K is still open for business and the jury’s still out, whether it’s for better or worse in sickness and in health let’s have a once and for all final decision and move on.
There’s a saying “No one pretends that democracy is perfect as long as you get the result you wanted” no wrong or right answer there then?
This blog was produced by Tony Moran, Co-Director of The Business Executive Club who meets every month at Denton Golf Club. Their ethos is Excellence through Experience.