Yes, we’ve left the EU. Yes, it’s shocking and disheartening. But in the words of the Remain Campaign’s leader, and our recently resigned Prime Minister David Cameron, “Britain is not a quitter…that is what made our country great and that’s how it will be great in the future.” Taking this advice to heart, we have tried to find the positives and have put together the following to help you stay calm in the upcoming instability.
The pound has plummeted to a 31-year low as panicked traders react to Brexit. This means that it will be cheaper for those living outside the UK to visit us, and that they will be able to afford more whilst here. That in turn means more eating out, drinking (albeit drowning Brexit sorrows), and staying in hotels.
Officially it takes two years for Britain to leave the EU. A lot can happen in two years so it’s not time to panic yet.
This is a good opportunity for businesses to take a step back and review their portfolio of suppliers. Let’s start with food and drink. This decision could well result in imports becoming more expensive in time, so businesses should think about trying to source items from the UK instead. Spend some time at farmers markets to find out about local suppliers, and do some research into British manufacturing companies. Whilst at it, expand your review into utilities. In this digital age where comparison websites are so plentiful, there is no reason for any business to be paying more than is necessary for utilities. We can also help with this.
If weekend trips to Paris or Barcelona become unpopular, the people of the UK will need to get their croissant or churros fix at home instead. See this as your opportunity to make European delicacies even better at home.
Uncertainty in the lead up to the referendum caused a standstill in the property market. It therefore seems highly likely that actually leaving the EU and the fear of the unknown will spark any life back into it. Rents and premiums may well fall, making it more appealing and affordable for restaurants to expand into new sites.