How will Brexit affect promotional markets?

 

How will Brexit affect promotional markets?


Well, it happened! Some people are still in shock almost a year after the UK voted on June 23rd 2016, to leave the European Union.

And here we are, pondering and second guessing what is going to happen with markets and trade, laws and human rights.

Yet the truth be known, no one really knows?

Still, it follows that for every bit of bad news, there seems to be alternative good news to counteract this.

The value of the pound dropped sharply, rose equally sharply, and settled at a similar value pre Brexit.

If the value of the pound drops, our products become cheaper to export, yet more expensive to buy. We might not be readily able to trade with our traditional partners, but we can build new ones.

Some items we may find are more difficult to source, and again others we never really had access to are now available. Surely there’s a yang to every ying?

Any breakup, no matter how small or large, does tend to lead to a degree of acrimony and discourse of some kind. Some businesses will definitely fear change and perhaps with some good reason. Whilst other not yet formed businesses may evolve from the changes and balance the redress.

We tend to forget that the UK managed pretty well before entering the European Market?

To us at PromoSolved, we feel there is little point deliberating what might be.

Being nervous about change is natural, but not necessarily productive.

The decision to leave has been made, and all those forecasting doom and gloom for the country, do nothing to alleviate the problem-if there really is one?

Perhaps the fact we are stuck with our lot may bring out the entrepreneur in some businesses, and we can still strive and grow?

We hope to be in that category and are being as proactive as we can to ensure this happens.

We wish all businesses, whether opting to Remain or Leave, good luck.