June 2016, by Paula Oliveira, Executive Director
It’s not the outcome that at least 48% of the UK wanted, especially London, Scotland and Ireland. But it seems that a life out of the European Union as we know it is coming to the island.
The scenarios abound: the UK could follow a model more like Norway and nothing will change fundamentally; the UK could negotiate an entirely new associate status; the UK could close some doors to Europe and open up to other parts of the world; or it could even be the end of the UK, with Scotland and Ireland out of it and London creating its own sort of independence. Nobody knows.
Initial reactions rattled the value of the pound and saw a sliding stock market – though both now look to be stabilising. While traders love swings in the market so they can find opportunities that others don’t notice and make big bets, human beings in general don’t like uncertainty. And in uncertain times, as in recession, businesses tend to retract and wait.
But life goes on. And as we’ve seen in other difficult economic times starting as early as 1929’s NY stock crash, the ones who are entrepreneurial enough to spot opportunities and invest are the ones who will survive and leapfrog the market when it rebounds. The ones who wait and see can survive, but might miss an opportunity to reconnect with their UK audience who, whatever side of the fence they are, is now in so much need for positive news and energy.