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Brexit response: Vote spells a period of uncertainty for eCommerce

Guy Levine

Posted in ecommerce

24/06/16

 

It’s the morning the UK voted out of the EU. To be honest, this is not what I expected. We went to bed thinking this would be like any other day. The mood is strange, and no one seems quite sure what is going to happen next. We have at least two years of uncertainty in front of us, and let’s be honest, no one like uncertainty. Now it’s up to us, the entrepreneurs, to find the opportunities and weather the storm. But we are Great Britain… that’s what we do, right?

I work in the digital sector. We don’t buy any goods, we don’t sell any physical products, but many of our clients do. We rely on companies to let us invest their marketing budget into activities that will deliver them a return on investment. I know the money market will be unsettled, but in the midst of all the disruption, what will happen to marketing budgets?

With all the focus on tech in Europe, the incentives to train people, and the leadership development grants that our sector has benefited from so greatly, what will happen? Will we just go stale? Become the country who could have been?

How will Brexit affect the global eCommerce market we service? Traditionally, the internet has removed the boundaries of commerce. You could set up anywhere and trade, but will the suffering pound preclude us from doing this?

I seem to have written a post which has more questions than answers, but in truth, I just don’t know. I know we will face challenges; I know things will have to change, but I think we need some more time to see the full impact.

UK business must continue to concentrate on growth and remain focused. Whatever the circumstance, we can’t start a pity party. In fact, more than ever we need to be strong and find the opportunities to grow and prosper. The economy will probably need us more than ever!

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