Going by the news channels, one might think that the UK’s departure from the EU might be the worst thing that’s ever happened in the history of this beautiful kingdom. But is it all darkness? There has to be some good things that come out of Brexit, right? The answer is yes, there are indeed outcomes that could lead to a positive impact of Brexit on the UK businesses. And today we are going to explore a few of them.
1. Greater long term economic growth rate.
The EU, and principally the Eurozone, has a dismal growth record, especially since 2008. The ECB repeatedly warns that in addition to fiscal measures urgent structural reforms are needed, and the Euro Parliament repeatedly ignores this structural message. Germany is the only country with a decent record and even there the UK has outstripped them. The rest of the world has moved on from the 2008 fiscal “Great Recession”, but not Europe. Greece, Italy, France, Portugal… are facing a dismal future. The sooner the UK exits the EU, the better it would be for its long term economic growth outlook, as can evidenced of global economic trends since the 2008 Economic crisis till today in the image below:
2. Less corruption.
Brits might find this hard to believe but the UK is a relatively corruption-free country. Southern and Eastern Europe is corrupt, and the EU administration (naturally) suffers from this. The admission of Greece, with its totally cooked books, was a joke and we are all going to be paying for this for decades. S. Italy is still in the hock of the Mafia. Tax evasion is rife; backhanders; etc.
3. Lower Real Estate prices.
The economic damage and the implied decimation of the number of consumers, will reduce DEMAND for housing (less consumers = less demand = lower prices).
The economic damage will cause the £ to be further devalued. This will make imports much more expensive, but will make exports from the UK much more competitive in the world.
5. Govt Accountability
If the UK leaves the EU, it will be a lot more difficult for people to simply offload complaints onto the EU. The electorate will be forced to hold UK politicians accountable.
Long term trends for the EU look discouraging as well. Compare the EU with the US (the other mature region):
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As you can see from above, not all is bleak in the UK’s future. It is important to consider every perspective before making a business decision, especially when it comes to moving to a new country, even more so if you are moving for business reasons.
There are various options that might remain to be lucrative for entrepreneurs and upper level corporate positions, looking for expansion to the UK. See all the ways in which you can move your business to the UK with UK business visas.
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