What does leaving the EU mean for businesses like yours and ours? 

National income is likely to be much lower. The whole 'leaving the EU' agenda creates uncertainty around many functional parts of our country and leads to a whole host of questions; What happens when we leave the EU?', 'How will it affect this?', 'How will it affect that?'. People simply don't like change. 

Reduced access to the single market is the next issue, and a big one at that - particularly for our industry. The single market allows everybody in the UK simple access to goods from accross the continent as a member of the EU. As a participant in the single market, UK businesses gain access to 500 million customers with the freedom and ease of access to buy or sell. So what does this mean? UK businesses are likely to incur extra import and export tariffs. This is a huge problem, as 44% of Britain's exports go to the EU.

Other European countries will also find it more expensive to trade with us, therefore reducing the amount of overseas investment into the UK economy and subsequently an increase in unemployment.

How do we react to all of these issues? 

It's time to be selfish and start looking after ourselves. It's time to create a British circular economy. Less foreign investments and higher export tariffs indicate that we need to invest into our own economy in order to make up for these losses.

The next time you place an order for toner make sure that you're buying British! - Wouldn't you rather invest in your own country than somebody else's?

 

If you have any questions we're always happy to help - Chris-fink@ecs-uk-ltd.co.uk

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