Welcome > Blog > Government > Brexit gets the majority, so what next?

19th July, 2016 No Comments

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The voting is over, the results are in, and the dust is settling following the UK’s momentous decision to leave the European Union, and most people and businesses are now asking ‘What next?”. The country seems to be in a state of limbo as the overwhelming majority of citizens had thought that it would be business as usual following a vote to remain. But that was not to be. We now have a new cabinet and all eyes are on them to see if we have radical thinking or a ‘steady hand on the tiller’.

For the foreseeable future many investment decisions have been postponed, but any crisis, along with the threats it brings, also offers opportunities. The future of this country will depend on the extent to which we maximise on these opportunities, and minimise the threats. Many of us will have our own ideas of what to do, but it appears to me that what we need is a major overhaul of the way in which the country operates in order to grasp these opportunities and take bold steps to seize the chance to make the UK ‘a country of enterprise’ in the future.

It would be good to see politicians lay down a path with the least amount of obstacles in the way. With similar strong and decisive leadership, big businesses ought to be concentrating on long term plans and not the share value of today, and the banks should approve lending on all reasonable requests. Individuals need to take personal control of their futures, and SMEs should be looking at how they can make gains, maybe even at big business expense!

Back to my earlier comment about seizing the chance to make the UK ‘a country of enterprise’ I believe there’s already a real degree of enterprise around, but few people manage to realise their aspirations due to a number of factors. To unleash the entrepreneur I think the key steps are:

An overhaul of the tax system to simplify structure – take away the vast majority of the reliefs and cut the headline rates. The effect will be that businesses will find it harder to avoid paying what is due, at the same time reducing the tax burden to an acceptable level.

Rationalisation of the business support schemes available – create one national start up and growth support programme which is available to all aspiring entrepreneurs, delivered either face to face or online. Overhaul enterprise learning in schools and colleges with a National Curriculum standard at each stage of the education system (delivered at least once a week) for enterprise learning.

Invest heavily in regional road, rail, air, and broadband communications – regional investment, as opposed to major development of projects such as Heathrow 3 and HS2 will have a greater effect on the growth of SMEs and the development of enterprise than any large long term projects.

Three ideas that will not be easy to implement but this should not deter us. To take the opportunities offered by the Brexit vote, we, as a nation, need to be entrepreneurial in our behaviour – take the risk, believe in what we are doing. It will take a brave person to turn these ideas to reality as each will be opposed by vested interests, but the opportunities are out there …. as are the threats if the country slowly sink into recession.

Written by Cavendish Enterprise

 

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