As the UK tries to come to terms with the enormity of what transpired in last week’s EU referendum, a palpable air of anxiety hangs over a society now in limbo. What happens next? Have we done the right thing? How will this decision impact the economy and citizens?
Guerillascope responded to the result with the same shock and disbelief felt by large sections of the population, the advertising industry and businesses at large, but what’s done is done: the electorate has spoken and its decision has to be respected. Now we must rouse ourselves, rally together, act responsibly and with compassion, and turn to the innovation and creativity that drives what is still, let’s not forget, one of the world’s strongest economies.
In a time of complete uncertainty, the one thing we can all agree on is that nobody has any idea what’s going to happen next. In the short-term, it’s likely to be a bit of bumpy ride; the pound sterling has fallen and will continue to yo-yo in unison with fluctuating confidence in the UK’s economic outlook, which will also have an effect on the costs of living and the taxes we pay. However, it’s also likely that the initial fallout from this vote will subside.
Additionally, it’s important to remember that this will not be a quick exit. The process involved with leaving the EU will be a lengthy one, with the long-term effects – whatever they will be – unlikely to be felt for a couple of years at least. We have time to plot our course in this new, hyper-globalised world; if it actually happens at all, of course, with the final decision resting on the shoulders of Parliament.
However, since democracy has been served, we have to assume that it will. So, let’s focus on possible positives: we will be able to buy what we want, when we want from world markets – including cheaper foods and other resources, which will make our wages go further and improve efficiency for importers. We will also have the freedom to build a competitive economy outside of the EU in any way Britain and its people decides, thanks to what remains one of the world’s most stable democracies. It will be easier to negotiate and agree trade deals without the involvement of 27 other states, whilst our economy may also see the return and strengthening of several industries previously constricted by the EU.
As for immigration, we will continue to benefit both economically and culturally from people arriving on our shores to work – there will be no Trumpian walls erected. Ultimately, for all the good that the EU did and stands for, it would be foolish to say it wasn’t flawed. We have it in our power to create a society that benefits and embraces all within it.
In order for us to make a success of this, government and business must work closely together in negotiating new trade deals with Europe and the rest of the world, protecting jobs and attracting investment. At the moment it’s easy to forget that the UK remains a world power of considerable influence; this will not change. Let’s harness the invention, creativity and dynamism that has made us such a global force, and grasp new opportunities this vote will create. It’s also fundamentally important that we do not turn our backs on our European friends, whilst working hard to develop stronger relationships with our partners worldwide.
This wasn’t the result we expected, but Guerillascope will continue to champion small and medium sized businesses within a TV market that will, of course, adapt and push on. We will continue to demonstrate the same passion for what we do and dedication to our clients as we always have, and work even harder to provide a service that supports sustainable, scalable growth. We have utmost faith in the ability of the UK’s SMEs – the lifeblood of our economy – to acclimatise and prosper. We also believe they will be given every opportunity to do so.