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Brexit on business – How we are reacting to it?

Lee McQueen, managing director of Raw Talent Academy

This year has been a very eventful one so far, one of the main topics that swept across Europe was the fact that the UK voted to leave the European Union which caused outrage amongst a variety of the public. It caused the younger generation to protest and fear for the future. The outcome of the vote came as a surprise and went against a large majority of expert opinions. The Brexit vote could eventually lead to businesses making drastic decisions out of uncertainty.

The truth is, everyone is uncertain at what the true effects will be from Brexit, it could be bad or it could be very positive, nobody really knows what the long term outcome will be but people are happy to jump on an opinion bandwagon.

Being an owner of a recruitment business myself, I've noticed in the last few months since Brexit that a variety of businesses have decided to put hiring on hold for the time being due to Brexit. The truth is they are gaining nothing from holding off from hiring, in fact they're potentially missing out on some of the UK's best talent

In the three and a half months since Brexit has happened, nothing has really changed, people and businesses have panicked, that is all. Should this stop you from growing your current sales/marketing/recruitment/HR team? Of course it shouldn't. Should you be putting a halt to your business plan? No you shouldn't.

One example of a business ‘getting on with it’ post Brexit vote is pharmaceutical firm Glaxo Smith Kline who have invested a whopping £275m to expand its UK manufacturing sites.

Chief executive of Glaxo Smith Kline, Sir Andrew Witty, who backed the Remain campaign, said, “the UK's skilled workforce and competitive tax system helped drive the decision. It is testament to our skilled UK workforce and the country's leading position in life sciences that we are making these investments in advanced manufacturing here."

Realistically there aren't going to be any major changes until Q2 of 2017, so until then carry on as you are and don't miss out because of Brexit and your uncertainty around it.

Picture courtesy of Pixabay

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