Following this morning’s result, we are now in uncharted territory and likely to see continuing instability across the economy and political arena for some time to come.
For North West businesses who desperately need the confidence and certainty to be able to plan ahead, that isn’t likely to be in place any time soon. Businesses who rely on export markets who will see the short term benefit of the fall in sterling but at the cost of long term instability and uncertainty. Conversely, businesses who rely on imports will see immediate pressure on prices coupled with longer term uncertainty. However, the effect is likely to be felt across the whole business community and wider economy.
The immediate priority for businesses is to understand what they can do to give comfort and confidence to investors and funders and to start to put a plan in place to navigate the business through the next 2 years.
For private investors and those who rely on investment income, the immediate advice has to be to sit tight and not make any immediate decisions. Get some advice once the initial post result turbulence has settled down and then start to make some informed decisions.
To quote the wartime poster, we have to just keep calm and carry on.
If you have any questions or concerns, please pick up the phone and give the team a call on 01254 679131.