Business leader’s Brexit warning: Crippling uncertainty is harming our industries

Posted on Jul 20 2019 - 1:46pm by admin

Business representatives and the Government have told entrepreneurs and business owners to prepare for any scenario could come from Brexit. But many business leaders are lamenting it’s difficult to plan without any idea regarding what will happen on October 31 – the day the UK will officially be leaving the European Union. Anita Tweats, CEO of financial recruitment experts The Finance People, told “It’s impossible to predict the impact that leaving the European Union without a deal could have on British businesses. 

“We’re venturing into completely uncharted waters.

“That’s what’s most worrying about the situation for business leaders like myself.

“Business are encouraged to plan, plan and plan – that’s supposed to be the key to success.

“But with so much uncertainty in the air, planning for the future is a headache at best.”  

READ MORE: Michel Barnier threatens to make UK citizens living in EU pay price for no deal Brexit

Ms Tweats voiced her worries for a no deal Brexit and its impact on the UK’s economy.

However, she warns that businesses are already facing disruption and losses, with the political deadlock harming the country’s economy.

She said: “Growth is being affected by Brexit right here, right now.

“The current climate of uncertainty and severe lack of confidence in the current Government has already seen a slow down in growth, never mind worrying about the prospect of no deal in the autumn. 

“I’m seeing more and more business that trade in Europe exercising caution and pulling back as a result of Brexit limbo.

“It’s difficult at this stage to gauge what is worse – a no deal Brexit, or leaving the EU with a deal – because it seems like the details of a potential deal can’t be finalised.”

Theresa May put her deal to Parliament on three different occasions – only to see it rejected each time.

The Tory leadership hopefuls running to replace her, Boris Johnson and Jeremy Hunt, have all pledged to deliver Brexit and to leave the EU without a deal if the Government can’t strike a new deal in Brussels.

And Mr Johnson, the frontrunner, has announced Brexit will happen on October 31 without any delay, pleasing Brexiteers but upsetting the financial markets at the growing prospects of a no deal Brexit.   

As a consultant, Ms Tweats is advising her clients to “carry on as normal as possible” and ignore as much as possible the political uncertainty gripping the country’s economy.

She said: “With regards to the UK leaving the EU and all of the possible exit scenarios, I’m currently advising all of my clients to carry on as normal and take a business as usual approach.

“Business owners simply can’t afford to sit around on their hands, waiting for the powers that be to decide the terms of Brexit and agree on a deal or otherwise.

“We need to keep the cogs of industry and trade turning to ensure business can, at the very least, tread water and absorb any impact exiting the EU might have.

“It’s very hard to see where new opportunities or problems could come from at the moment, such is the air of unpredictability across the country.”   

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