It seems that everyone has an opinion ‘post-referendum’; perhaps even more so than the mass of debate and debacle before the vote ever took place. One thing is evident, however, and that is that very few people actually believed it would happen – including many of those who were so vehemently pushing the argument in favour of leaving… Some are still in denial, even now, and seem to think there must be a loophole or a way of reprieve to reverse the majority vote!
It’s a bit like the football fans who angrily argue that the opposition’s winning goal was offside… Maybe it was, but no one is going to change their mind now the game is over – Move on!
Some observations and the ONE REAL TRUTH!
Well, we all know about the volatility of the pound in the financial markets during the aftermath. And I imagine that the moment I press ‘publish’ on this post its value will have changed again. But, unlike the pre-vote arguments, and even with the uncertainty that followed; there are a few ‘facts’ on which we can base some comment.
Mark Carney’s typically safe Canadian approach has been reassuring and strongly suggests that there will be no drastic action taken by the Bank of England. He has stated that the £250 billion ‘shoring-up’ fund is available as needed and it now appears that this was part of a pre-vote ‘Plan B’ discussed with the chancellor’s department. So maybe people were thinking ahead after all…
The Monetary Policy Committee have a scheduled policy announcement due for the 14th July and the whole ‘let’s not be hasty’ tone of voice from the Bank of England suggests the 0.50% rate will remain – probably until the end of 2017. My contacts within the banking sector have made some interesting forecasts for inflation and their views on the performance of the pound against the European and US markets – but this is, again, just speculation.
For example – one such prediction is that the pound’s end of year (2016) rate will be €1.09 against the Euro, and $1.10 against the dollar. But what do they know…?
THE ONE REAL TRUTH
I could fill this post with numbers and predictions, opinion, speculation and comment… I could launch an argument about the rights or wrongs of the campaigns, the misinformation, the back-biting, the backing away from previous comments and the shift in leadership. But what good would it do?
As small business owners, we are in the most powerful position of all. We may be subject to outside legislation, the economic environment, the influences of the marketplace that we happen to operate within; but we have the ability to make decisions.
Today, the rumour, repercussions and realism of the referendum may well be different to what it was yesterday, and the predictions may have shifted as a result. But today is the only day that you can actually ‘take any action’. You can focus on all the hype, hyperbole and ‘what if’ if you like or you can get on and ‘do something!’
Sure and steady will always win the race!
I like Mark Carney’s approach. It is calm and considered; yet proactive and positive. We, as small business owners, should follow that pattern. Don’t go too mad (uncertainty is still uncertainty), and change everything on a whim because you heard someone make a prediction. But don’t sit there and do nothing either.
For some people ‘literally’ nothing will change. If that is you then get on and play your part in making this great nation of ours into the best it can be for everyone. For others, there will be concerns or maybe even catastrophes looming ahead. My advice to them is pretty much the same! You can accept defeat and give in, or you can take the cards that the day has dealt you and go and make something amazing happen. If that means changing the way that you have always worked then do it – if it means changing your entire business – do that! But whatever it is that you need to do – It is down to you to make it happen. You have the choice!