HAS BREXIT BECOME A BYWORD FOR BUSINESS INERTIA?

With just two months to go now until the ‘Brexit’ vote, both sides of the debate are bombarding us with numbers and the potential consequences of a vote either way.

We’re now about half way between the date when the vote was announced and the date it will take place and, while pollsters and research organisations are thriving from the trade in predictions, it would appear that they’re the only ones benefitting commercially from all the uncertainty it brings with it.

Let’s be clear here, by Brexit uncertainty I am not referring to the uncertainty about how a possible exit from the EU will be managed or what impact it will have on our economy…we’ll leave those debates to the heavy weight commentators on TV. The uncertainty I’m referring to is what’s happening right now in UK businesses as decisions are put on a back burner pending the referendum decision.

It’s a pattern that was evident during the run up to the Scottish Independence Referendum last year, when businesses delayed decisions on contracts and investors dragged their heels as part of a wait-and-see approach.

The consequences of the Brexit vote – whichever way it goes – are potentially much wider reaching than anything the Scottish vote could have augured. And the slowdown in business decision making it has prompted is also much more significant.

Regardless of which camp you’re in - or if you’re seated firmly on the fence – creating a commercial hiatus while the country makes its mind up will not improve economic stability when the results of the vote have been announced. In fact it can only add to the uncertainty ahead.

Whatever happens, the UK will still be a place where business can thrive, innovation can happen and deals can be done. But we will thrive, innovate and transact much more effectively if we spend less time sitting on our hands waiting to see which way the wind is going to blow and more time focusing on achieving our goals.

As a construction PR agency, Clare PR has seen how significant the impact has been already on the built environment sector, with decision delays at investor level trickling right down the supply chain. The impact of delaying projects during the referendum build up will be far-reaching and will be felt most acutely by those least able to manage the impact on their cash flow.

We may only have a few more weeks to go but isn’t it time we stopped waiting to see what happens and started taking action to make UK business as robust as it can be regardless of the electorate’s decision?