Is Brexit really looming? It’s difficult to tell, but what we can be sure of is a major upheaval in terms of UK businesses. Whether there are companies within companies, or startups are looking to make a bigger impact after the event, the future of plenty of companies is under scrutiny. Despite your attitude to Brexit, you’ve got to brace yourself for uncertainty. Let’s have a look at the impacts of Brexit on UK businesses.
Is A Lack Of Confidence The Norm?
Not just from the outside, but from the inside of businesses. There has to be a radical shake-up of our companies, especially because there’s a lack of confidence in our abilities. A lot of companies are staying put and not moving out of their offices. HSBC has ruled this out, but there are companies like Visa and Vodafone looking to relocate jobs at officers. As such, there could be a big difference in terms of the legalities of those businesses, in terms of an employment law, or how they hire workers from the UK to work within the EU. And while the big industries like the auto industry and even the NHS are expected to suffer, these lack of vacancies means that everybody has limited confidence in Brexit so far.
Will Work Just Dry Up?
It’s been stated that high-skilled workers will be prioritised with no preferential treatment for people coming from the EU in comparison to workers from the rest of the world. Granted, this does little to alleviate fears, but hopefully, this means that work won’t dry up, and then people will aim to keep a sense of balance in terms of their working life, will stay in the UK. Hopefully, this is a sign of good faith between the UK and the EU. But as many companies are looking to leave, we’ve got a major quandary on our hands.
Will Remote Working Increase?
Not just for those businesses looking to cut a pretty penny, but for those companies that deal with America and the EU on a one-to-one level, and want to continue this relationship, potentially remote working will improve and increase as a result. Remote working has benefits in terms of business budgets, but it’s also a perfect answer to the current working prices. We see so many businesses that offer remote working capabilities, as well as company that exclusively hire remote staff, and for any UK business to thrive, especially newer ones where the budget will be limited, remote working appears to be the key.
In short, there are so many questions that need answering, and if you want a business that deals in cross-border sales, you may find the international sales increase and rates increase overtime. The exchange rate is the biggest problem at the moment, but as many businesses are looking to deal with companies outside the UK, despite the trade tariffs, the more work there is, the better each business will benefit. Everything is up in the air right now, and the future is uncertain, but hopefully, there will be a glimmer of positivity.