Why Brexit Is Good For Business

There’s been a lot of doom and gloom around the result of the referendum, mostly due to the devaluation of the pound, but is Brexit really bad for business? Here are six silver linings to Brexit that may benefit your business.

BREXIT

1. Property

With uncertainty about sterling, the prices of UK property may fall in the future. This is good news for property entrepreneurs and businesses who are looking to purchase business premises.

2. It may be easier to get a loan for your business

The Bank of England are easing lending rules to stimulate the economy. As well as there being an extra £150 billion available in loans, analysts believe that the Bank of England may cut their interest rates soon to make loans an even more attractive prospect.

3. Businesses in the tourism industry will benefit

With the value of sterling down, the UK may become a more attractive holiday destination to foreign visitors. Foreign destinations are also comparably more expensive, so British holidaymakers may decide to holiday at home.

4. Exporters will benefit

Businesses who rely on imports will be feeling the crunch after the devaluation of sterling. However, businesses that export will be looking at Brexit as an excellent business opportunity. Many exporters are locking in forward contracts at the current rates in order to get the best deal.

5. New talent

While critics believe that businesses who largely hire talent from the EU will see a detrimental effect on their staffing due to Brexit, there is an alternative view that suggests Brexit may improve the workforce.

After Brexit, it is likely that the UK will allow more migrants from countries such as China, India, Australia, and the US, to move to the UK. Businesses may be able to recruit skilled workers from these countries. There is also the possibility that a points entry system will be established – much like Australia’s. This in turn may mean higher quality candidates coming into the UK looking for work.

6. Less red tape

Most businesses, from the micro to huge corporations, have experienced frustration at some point due to EU regulations. Brexit should give the UK full control over how business is run in Britain, which should help British businesses to thrive. After Brexit, the red tape could be removed very quickly and businesses may see benefits almost immediately.

A good time to start a new business?

In times of change, there are always opportunities for entrepreneurs and new businesses. If you’re thinking about forming a company, this may be the perfect time to do it. Take action today and use our online company formation service to form your company in just a few hours. You can find out more about our online company formation service here.

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