Brexcuses

[turbobloke]

Tampon said:

turbobloke said:

Reading this very thread, it's already been accepted; the issues remaining are short-term/long-term and the ups as well as the downs.

As also posted not long ago somewhere, the referendum was about the future direction of the country, initial business impacts were always going to vary with some positive and some negative.

Given the timescale involved, with the referendum promised and then planned, you have to hope as a spectator that businesses which knew there was a risk of being adversely affected didn't simply rely on the same thing - hope. There was time to plan ahead, look at mitigating risk and so on. The impression is that hope (for a Remain vote) was a widespread 'strategy' for some businesses.

You seem reasonable Turbo.

As you see it what benefits has business or people seen so far?

...

Have there been businesses/ industries that have benefited already?

Benefits I've read about include a boost to the UK tourist industry and to businesses which export goods and services (GBP movement), and there's also mention of benefits to some law and tax firms, not forgetting currency trading...and possibly imminent gains for the fishing industry.

Tampon said:

I realise I have a blinkered viewed through personal a business events. Just I haven;t heard positives yet. I know of funding for PhD's is dropping like a stone, my wife is fine but people starting now have a bare cupboard.

Do you happen to know the specific reason for any particular PhD? I appreciate the claimed link to Brexit in general.

[MarshPhantom]

hornetrider said:

This is a thing now, apparently. Basically blaming poor performance on the referendum because, well, you just can alright?

Let's start off with Foxtons:

https://www.theguardian.com/business/2016/jul/29/f...

And go with Lloyds too:

http://www.bbc.co.uk/news/business-36911896

Any more for any more?

Have there been any good news stories becaiuse of Brexit?

[Tampon]

sidicks said:

Given that we haven't left yet, won't do for at least years, and don't know what the terms will be when outside of the EU, exactly what are you expecting?

Just wondered if there were any positives so far, not future guesses. I know of negatives, and others have pointed them out here that they are experiencing.

Just wondered if there had been any positives experience of our very narrow decision to leave Europe.

I don't feel that is a unreasonable question to ask?

Otherwise I am left experiencing Brexit so far as a wholly negative thing, I would like to feel a bit more positive about things and if I can hear the other side of a argument and take on board reasonable statements and facts/ experiences to the the contrary then I will do.

That is why I asked Turbo, he has been fair and measured and seems to know what he is talking about, so I thought I would engage with him.

[RYH64E]

turbobloke said:

Like Lloyds with their ongoing staff-cutting programme suddenly blaming Brexit? Spot on.

Not to mention the fact that Brexit wasn't a vote around helping big business it was a vote about the future direction of the country.

Are business leaders really whining about difficult trading - if so they're in the wrong job, expecting no change and money for nothing isn't and never was the way to go about trading. It would be interesting to know if the people making the noise have ever completed a successful start-up or have climbed the greasy pole.

It's either that or they've grown fat and lazy on money for old rope with little effort. Now's the time for talented, innovative and committed business leaders to show some of that talent, innovation and commitment.

Is this phenomenon across all big business or just those looking for blame transfer over cuts? I doubt it's universal. The thought that the whiners have personal self-interest and corporate self-interest at the forefront of their comments must arise. The interests of the country long into the future are not the same thing as securing short-term hassle-free lottery wins for CEOs.

One positive is that when the lower corptax, lower business rates (hopefully) and other incentives kick in, these changes ought to attract the non-whining type of entrepreneur as opposed to bland intrapreneurs.

What a load of bks, 'talented, innovative and committed business leaders' knew what was best for the country and were overwhelmingly in favour of remain, yet now they're having to deal with the inevitable fallout of a decision made by the economically illiterate and you think it's their fault for not rising to the challenge?

[turbobloke]

MarshPhantom said:

Have there been any good news stories becaiuse of Brexit?

Post timed at 11:13 mentions some.

[turbobloke]

RYH64E said:

turbobloke said:

Like Lloyds with their ongoing staff-cutting programme suddenly blaming Brexit? Spot on.

Not to mention the fact that Brexit wasn't a vote around helping big business it was a vote about the future direction of the country.

Are business leaders really whining about difficult trading - if so they're in the wrong job, expecting no change and money for nothing isn't and never was the way to go about trading. It would be interesting to know if the people making the noise have ever completed a successful start-up or have climbed the greasy pole.

It's either that or they've grown fat and lazy on money for old rope with little effort. Now's the time for talented, innovative and committed business leaders to show some of that talent, innovation and commitment.

Is this phenomenon across all big business or just those looking for blame transfer over cuts? I doubt it's universal. The thought that the whiners have personal self-interest and corporate self-interest at the forefront of their comments must arise. The interests of the country long into the future are not the same thing as securing short-term hassle-free lottery wins for CEOs.

One positive is that when the lower corptax, lower business rates (hopefully) and other incentives kick in, these changes ought to attract the non-whining type of entrepreneur as opposed to bland intrapreneurs.

What a load of bks...

Thanks for your considered opinion, which is not only crude but misjudged.

RYH64E said:

...'talented, innovative and committed business leaders' knew what was best for the country and were overwhelmingly in favour of remain...

Not at all. I referred in my post to greasy pole climbers in big business, and the entrepreneurs who have experienced a successful start-up (and are growing it), both may well be successful in the financial sense so well done to both but there are differences.

Big business, tending to be more sclerotic, was generally against Brexit, small businesses were generally in favour of Brexit, in the manner of such generalisations.

I'd bet a shilling on the side that the talent, commitment and innovation are rich on the SME side. Keeping heads down below the parapet and plodding on more so on the big side.

RYH64E said:

...yet now they're having to deal with the inevitable fallout of a decision made by the economically illiterate and you think it's their fault for not rising to the challenge?

When you wrongly specified 'economically illiterate' it was pleasing to note that you forgot to add 'xenophobic' and a couple of other inappropriate insults.

The referendum was about the future direction of the country, not short-term headlines about specific businesses of any particular size in any particular sector.

As you were/are a diehard Remainer, hopefully you planned ahead rather than rely on hope and your business is OK - did you not post about record turnover and/or profit not long ago?

[Randy Winkman]

MarshPhantom said:

Have there been any good news stories becaiuse of Brexit?

Oh come on! Do you really not read the Express?

[sidicks]

Tampon said:

Just wondered if there were any positives so far, not future guesses. I know of negatives, and others have pointed them out here that they are experiencing.

Just wondered if there had been any positives experience of our very narrow decision to leave Europe.

I don't feel that is a unreasonable question to ask?

Otherwise I am left experiencing Brexit so far as a wholly negative thing, I would like to feel a bit more positive about things and if I can hear the other side of a argument and take on board reasonable statements and facts/ experiences to the the contrary then I will do.

That is why I asked Turbo, he has been fair and measured and seems to know what he is talking about, so I thought I would engage with him.

As I explained, clearly the uncertainty is going to be negative in the short-term - that should be no surprise to anyone. When the terms of our deal are known and that uncertainty is removed, that is when you'll see real upside, not short term upside due to FX movements.

[Tampon]

turbobloke said:

Benefits I've read about include a boost to the UK tourist industry and to businesses which export goods and services (GBP movement), and there's also mention of benefits to some law and tax firms, not forgetting currency trading...and possibly imminent gains for the fishing industry.

We are currently down in Swanage, friends down here own large part of G whites and the ice cream stalls etc, also another friend runs mackerel fishing tours. They have both noted a drop in business. Again this is a small micro climate, any details/ articles/ personal knowledge of the tourist businesses that are benefiting?

Which law and tax firms, on what premises has their business increased due to the vote?

How does the currency trading business work? (I have no experience of that market what so ever so treat me like a three year old when explaining). I am thinking essentially "gambling" on rates going up and down? if so I can see how some would benefit in a volatile market if they were good.

With the fishing one, has it happened yet? If not what are gains they will experience soon? If they have, what are they?

turbobloke said:

Do you happen to know the specific reason for any particular PhD? I appreciate the claimed link to Brexit in general.

The Wife gets her funding from the AHRC, their funding for next round of applicants comes from both business and government. EU funding goes straight into the pot as well. With the drop in the EU part when we leave business has withdrawn funding for next year waiting to see who will add to the pot. Will the government top up or will business have to step in. They are not committing due to the uncertainty. Wife is fine as she is fully funded by the Barbarian for her project and PhD but they have greatly reduced their contribution as their grants from the EU are now going to end when we leave. Future projects won't have the funding so anyone coming in now is finding it harder in a already tough arena.

Again for the cousin, business and EU grants fund his project (he is only a lower member), similar situation, EU money will completely stop so business won't fund a project that will fail. Polish team are in better position with EU funding guaranteed. He will either have to move to Europe to continue (brain drain to Europe as opposed to the other way as it has been) or do something else. if that continues on lots of other projects then British advancement will slow down with other countries taking our places in collaborative projects.

Again I accept I am hearing negatives left right and centre. If it is just going to be st now then fair enough. If it is just going to be st now and fingers crossed for some benefits, again fair enough. It is just tough to hear things are going to be better and fine right now when that doesn't seem to be mine and people I knows experiences. Makes me worried about the future.

Any good things that have happened so far I would take some solace in.

[sidicks]

Tampon said:

The Wife gets her funding from the AHRC, their funding for next round of applicants comes from both business and government. EU funding goes straight into the pot as well. With the drop in the EU part when we leave business has withdrawn funding for next year waiting to see who will add to the pot. Will the government top up or will business have to step in. They are not committing due to the uncertainty. Wife is fine as she is fully funded by the Barbarian for her project and PhD but they have greatly reduced their contribution as their grants from the EU are now going to end when we leave. Future projects won't have the funding so anyone coming in now is finding it harder in a already tough arena.

Again for the cousin, business and EU grants fund his project (he is only a lower member), similar situation, EU money will completely stop so business won't fund a project that will fail. Polish team are in better position with EU funding guaranteed. He will either have to move to Europe to continue (brain drain to Europe as opposed to the other way as it has been) or do something else. if that continues on lots of other projects then British advancement will slow down with other countries taking our places in collaborative projects.

Again I accept I am hearing negatives left right and centre. If it is just going to be st now then fair enough. If it is just going to be st now and fingers crossed for some benefits, again fair enough. It is just tough to hear things are going to be better and fine right now when that doesn't seem to be mine and people I knows experiences. Makes me worried about the future.

Any good things that have happened so far I would take some solace in.

I don't think people should be overly concerned with short term factors in ether direction unless of course they are directly affected).

[turbobloke]

Tampon said:

turbobloke said:

Benefits I've read about include a boost to the UK tourist industry and to businesses which export goods and services (GBP movement), and there's also mention of benefits to some law and tax firms, not forgetting currency trading...and possibly imminent gains for the fishing industry.

We are currently down in Swanage, friends down here own large part of G whites and the ice cream stalls etc, also another friend runs mackerel fishing tours. They have both noted a drop in business. Again this is a small micro climate, any details/ articles/ personal knowledge of the tourist businesses that are benefiting?

http://www.standard.co.uk/news/uk/londons-tourism-bonanza-after-brexit-vote-a3307491.html

Tampon said:

Which law and tax firms, on what premises has their business increased due to the vote?

My post cited mention of tax and law firms benefiting, here is a mention re-located in response to your post.

https://www.linkedin.com/pulse/10-industries-benef...

Tampon said:

How does the currency trading business work?

A currency trader may be along shortly to explain.

Tampon said:

With the fishing one, has it happened yet? If not what are gains they will experience soon? If they have, what are they?

That's a bit of an unfair question, when my post mentioned imminent benfits, not current benefits.

The CFP won't apply as now when we're out.

Tampon said:

turbobloke said:

Do you happen to know the specific reason for any particular PhD? I appreciate the claimed link to Brexit in general.

The Wife gets her funding from the AHRC, their funding for next round of applicants comes from both business and government. EU funding goes straight into the pot as well.

Thank you for the additional info including the snipped parts. In terms of EU funding, is that not UK funding returned in part only.

[Tampon]

sidicks said:

As I explained, clearly the uncertainty is going to be negative in the short-term - that should be no surprise to anyone. When the terms of our deal are known and that uncertainty is removed, that is when you'll see real upside, not short term upside due to FX movements.

Fair enough that is a honest answer.

So only st now, no upside and hopefully fingers crossed (no guarantees as no one can say as we don't know what will happen, as we haven't left, haven't decided how we leave, can't negotiate a trade deals with EU countries until out).

I don't feel positive about the current situation and I don't feel positive about the future based on that.

[PurpleMoonlight]

Tampon said:

sidicks said:

As I explained, clearly the uncertainty is going to be negative in the short-term - that should be no surprise to anyone. When the terms of our deal are known and that uncertainty is removed, that is when you'll see real upside, not short term upside due to FX movements.

Fair enough that is a honest answer.

So only st now, no upside and hopefully fingers crossed (no guarantees as no one can say as we don't know what will happen, as we haven't left, haven't decided how we leave, can't negotiate a trade deals with EU countries until out).

I don't feel positive about the current situation and I don't feel positive about the future based on that.

No need to worry.

sidicks is guaranteeing a real upside for us all.

Woo hoo.

[Tampon]

turbobloke said:

Thank you for the additional info including the snipped parts. In terms of EU funding, is that not UK funding returned in part only.

I appreciate you taking the time to reply to my questions Turbo.

I looked through the Standard article and it does show and explain how it has been good for London tourism and how local tourism should go up due to it being too expensive to go abroad. That is a positive, although not quite what has been experienced here just yet, fingers crossed for my friends.

The fishing one I don't feel counts as there aren't any up turns yet only potential guesses, but I can imagine exporting with a cheaper pound must be a good thing for them.

The linkedin article was vague and gave scenarios that should see a upturn in business for certain industries but not well argued and certainly no proof or examples. As it was written just after the vote it is obviously just a prediction from what comes across as some one who voted out? One of the business they predict will do well is redundancy agencies as they predict thousands will lose their jobs because of Brexit. Not really great news.

I hope you don't feel I have been argumentative with you or tried to antagonise you. Being honest I feel that apart for the London tourism nothing else has been positive and future hopes are just guesses.

Fingers crossed for the future.

[anonymous-user]

is anyone watching £ sterling at the moment ?

Edit : £ to euro

Edited by anonymous-user on Saturday 30th July 12:22

[turbobloke]

Tampon said:

sidicks said:

As I explained, clearly the uncertainty is going to be negative in the short-term - that should be no surprise to anyone. When the terms of our deal are known and that uncertainty is removed, that is when you'll see real upside, not short term upside due to FX movements.

Fair enough that is a honest answer.

So only st now, no upside...

Not quite - the short (medium?) term GBP side is boosting tourism and helping exporters, now.

[don'tbesilly]

Ghibli said:

is anyone watching £ sterling at the moment ?

Yes, it's gone up from $1.29 to $1.32 fairly recently, which would indicate an upward trend.

Is that good or bad in your book?

[Tampon]

turbobloke said:

Not quite - the short (medium?) term GBP side is boosting tourism and helping exporters, now.

So mainly st short to medium term and potential future benefits, just not sure what or how widespread yet or if they will outweigh the definite negatives that were predicted and are being experienced.

Happy days

[anonymous-user]

don'tbesilly said:

Yes, it's gone up from $1.29 to $1.32 fairly recently, which would indicate an upward trend.

Is that good or bad in your book?

I'm no expert and couldn't tell you what's going on.

It looks to me like someone is testing the water.

[sidicks]

PurpleMoonlight said:

No need to worry.

sidicks is guaranteeing a real upside for us all.

Woo hoo.

i've said no such thing.