It's time for business to stop talking about Brexit
In the UK, we hear too much talk about Brexit. Not a week goes by without some trade association or conference organiser holding a panel discussion about the impact of Brexit. And when I travel overseas, the inevitable question I am asked is how is Brexit affecting business? (The usual answer is that it hasn't happened yet.)
Well I say that it is about time for business people stop talking too much about Brexit and get on with doing their business (or rather, stop attending these conferences and panels about Brexit). Yes, it is going to impact many of them in many ways. But what can we do about it? Like many things, a few people have already predetermined the outcome of the Brexit talks because of the power they hold. And we merrily play to their tunes by debating it and thinking we have some kind of influence.
But we don't. It's a politician's game, and a few senior politicians control all the strings and have their party members fuel the frenzied debate about Brexit. And if we believe the recent article in TruPublica, then it's clear that a very tiny network of think tanks, politicians and businessmen are all interlinked to benefit from Brexit.
The Truepublica article suggests that one institute seems to be paving the way for its “parent undertakings”, engineering a “disruptive transition” for Brexit, then to reap the profits from chaos. The article says, "Its task is assisted by useful fools and fellow travellers on the Tory right. What we have often characterised as incompetence, therefore, may be more sinister. There is money to be made out of a hard Brexit.”
And the last sentence is key - there is money to be made from (a hard) Brexit.
This is a cue for smart businesses and entrepreneurs in the UK - don't be drawn into the doom-mongering created by politicians towing their party lines and the mainstream national media who simply play to their tune.
Businesses will be affected - there will be scenarios with deal or no-deal where costs will go up, where we won't have access to the talent that's needed to develop new products. But then business is all about figuring out how to make money, whatever the underlying conditions are. If it means setting up new development centres in a different country to serve a specific market, there must be ways of doing so or re-negotiating contracts to reflect the new cost base.
But it might also be wise to figure out who gains and who loses from Brexit - 'follow the money', as the saying goes. Then figure out if your business has a part in that value chain or supply chain both pre- and post-Brexit. For example, could there be a scenario where you'll actually benefit from servicing those organisations that benefit from Brexit? Or are there products or services you can offer that will help soften the blows of Brexit for companies that are affected by the hard Brexit?
This is of course a simplistic view. Many businesses are indeed getting on with what they do. However, there is an air of uncertainty for many manufacturers, exporters, and technology businesses who rely on talent from continental Europe. The uncertainty makes it difficult for everyone.
Yes, some people might be able to influence the Prime Minister and her Brexit team. Maybe privately they also long for a soft Brexit or no-Brexit. But if the outcome is already predetermined by those who fund the party, then does anyone really have any influence? Is all the debate by politicians only for vanity? [Maybe there's a separate debate to be had about modern politics.]
Build on relationships
One thing is clear. For agile businesses, the uncertainty created by the current lack of clarity on the outcome of Brexit might also present an opportunity. There are still going to be customers. There are still relationships that businesses have with customers, whether they are in Europe or in the rest of the world.
The relationships are probably the most important for understanding how to continue the relationships - and therefore continuing to do business - post-Brexit. I've spent my whole career building relationships around the world, and it is these that count more than anything else in doing business, wherever you are.
That's why I say businesses should stop talking about Brexit - and just continue to build upon the relationships they already have, and focus on the business. And how to make money, Brexit or no-Brexit. Leave that debate to the politicians.
[Note: I'm aware there will be people who say this post has undertones of cynicism about the political system, and that politicians do listen to everyone's opinion, and that everyone's opinion counts. Maybe some do, but I am also keen on presenting this as one viewpoint as part of several sides to the debate, at a time when people and businesses are losing faith in political leaders to do what's right for their public - whatever side of the political spectrum they are on.]
Chief Executive Officer & Co-Founder at Nutrabytes (nutrabytes.com) | Nutraceutical Industry Entrepreneur
6yI completely agree with Omkar’s view. We are heading towards a titanic disaster with Brexit. This will have an adverse impact on the future generations’ employment opportunities and growth potential for the UK. This is an accident waiting to happen and the clock is ticking. Let’s stop this clock now and keep the UK safe from an impending disaster. Listen to the market, investors opinions and where the money is moving.
This is an alternative viewpoint Nitin and I respect it. Unfortunately, when you see a car crash happen in slow motion, you have two choices - sit back and watch or honk and get the attention of the drivers who are involved with the hope that they might change course and limit the damage! The theories of doom and gloom aren't just theories but every expert, who understands a bit about economics, is convinced that there is very little benefit that will come out of Brexit for most businesses (at least for a decade or so). The time is NOW that we all speak-up and try to change direction - once we are out, we are out, at that point, I'd agree with you that we need to move on. Right now, we have the opportunity, as business leaders, to influence what the future holds for us and we should take that opportunity to voice our concerns at every stage of the process. Therefore, I respectfully disagree with your position and I will continue to be loud and vocal about opposing Brexit!
Male Trauma Coach - supporting, guiding and healing men who have experienced trauma in childhood and later life.
6yWhen you want to depress yourself, keep saying negative things about yourself and believe all of the carping and criticism of others. If the UK wants to talk itself into doom and gloom predictions of pundits from media and business who are desperate to say "I told you so" then believe all of the garbage being said at the moment and bury your head in your hands. Thankfully, not everyone does see the doom and gloom being peddled as fact and is looking opportunity square in the eye and saying yes please! Carpe Diem.
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6yWell said Nitin Dahad and a really good article. I agree with you completely, stop listening to the stuff that is plastered all over the news every minute of every day etc. There is opportunity in everything, if we continue to listen to the scaremongers then we will get no where with business. I think this is going to be a precarious time for all of us, and as always we will get through it. The UK has a strong economy and we should remember that we are in a good position to leverage that with countries all over the world. Yes, a deal will eventually be done, and if we wait for the eventual outcome we will be stuck in the mud. Better to keep advancing even if slowly, because momentum gained can only get faster and we are an innovative country.
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6yI am in complete agreement here Nitin Dahad During my visit to London last week I was very surprised to see managers and entrepreneurs put business on back burner. The only way ahead is to carry on and make most of the current confusion, as I am sure it won't lead into chaos which current scaremongers are trying to make believe.