Brexit: Big freeze, big change or big nothing?

Brexit is certainly the hot topic of the moment. The immediate shock of the vote to leave, and subsequent crashing of the pound, has left many concerned about the economy and what impact the decision will have on their own roles and lifestyles.

With the true long-term impact of the vote yet to be seen, there were some initial knee-jerk announcements made by commercial businesses about possible downsizing and potential relocation of roles. This, coupled with the media warnings of a forthcoming long and enduring recession in light of the uncertainty in the market, meant many were left wondering how the UK would survive outside of the European Union.

In truth, no one really knows what the future will hold: this is a new situation for the UK, as well as the European as a whole. Already there are rumours that the actual exit could be delayed until late 2019 and reports on the performance of the economy have not been as bad as initially forecast; despite the construction sector seeing a downturn, the UK is still showing growth (albeit at a slower rate).

Longer term, tough times are still being forecast, but for the immediate future many companies seem to be holding fast and continuing with business as usual. The McGregor Boyall Brexit Report 2016 surveyed all sectors and found that 65% of respondents said the decision to leave the EU had not impacted their immediate hiring plans and 76% stated it was business as usual.