brexit and foreign investment in UK
Discussion
Although I was a firm believer in staying in the EU, that boat has sailed so time to adjust to the new reality we find ourselves in.
My main concern is what will happen with foreign investment into the UK. My own sector is the science and Pharma industry, my thoughts on this sector are that although there will be a negative effect, the industry is fundamentally sound, built partly on the strength of graduates coming through the universities and also established centres of excellence. Our company is also of a size that we can be flexible and react to potential change. It's not going to be easy, but we will adapt. Over the past 5 years, I have seen decisions made in foreign board rooms result in large Pharma sites being mothballed or closed (Pfizer Sandwich, GSK Harlow spring to mind).
It's all very well that say, Sunderland vote to leave the EU, but surely when Nissan make future global investment decisions, will this not have a negative impact on the future of these plants. It could be as simple as not having a tick in the box marked 'Access to EU free market'. Without that tick, investment goes elsewhere, jobs are lost.
Maybe we can negotiate favourable terms for trade to the EU, but how long will this take? What happens in the meantime? Will we ever know the true value of future lost investment in the UK made behind the closed doors of foreign boardrooms.
Is this a simplistic view? This is my major worry about the brexit route we are taking.
My main concern is what will happen with foreign investment into the UK. My own sector is the science and Pharma industry, my thoughts on this sector are that although there will be a negative effect, the industry is fundamentally sound, built partly on the strength of graduates coming through the universities and also established centres of excellence. Our company is also of a size that we can be flexible and react to potential change. It's not going to be easy, but we will adapt. Over the past 5 years, I have seen decisions made in foreign board rooms result in large Pharma sites being mothballed or closed (Pfizer Sandwich, GSK Harlow spring to mind).
It's all very well that say, Sunderland vote to leave the EU, but surely when Nissan make future global investment decisions, will this not have a negative impact on the future of these plants. It could be as simple as not having a tick in the box marked 'Access to EU free market'. Without that tick, investment goes elsewhere, jobs are lost.
Maybe we can negotiate favourable terms for trade to the EU, but how long will this take? What happens in the meantime? Will we ever know the true value of future lost investment in the UK made behind the closed doors of foreign boardrooms.
Is this a simplistic view? This is my major worry about the brexit route we are taking.
There are risks and opportunities with Brexit.
I work in an industry that had to severely 'down size' it's operation in the early 90's - over 10,00 jobs went! We had to fight damn hard to keep what remained 'off the rocks'. It was hard, very, very hard and in 2004 we found ourselves again staring into an abyss. We then took some very innovative, radical and brave steps that a lot of others thought were barking mad but now we are very, very successful.
Fortunately, it appears that Brexit will not affect us in any significant way thank goodness.
The point here is that s
t happens but it can be a catalyst, as it was for us, to reappraise everything, radicallly adjust the business model and come out stronger. It does take a lot of courage and plain hard work though!
I work in an industry that had to severely 'down size' it's operation in the early 90's - over 10,00 jobs went! We had to fight damn hard to keep what remained 'off the rocks'. It was hard, very, very hard and in 2004 we found ourselves again staring into an abyss. We then took some very innovative, radical and brave steps that a lot of others thought were barking mad but now we are very, very successful.
Fortunately, it appears that Brexit will not affect us in any significant way thank goodness.
The point here is that s
t happens but it can be a catalyst, as it was for us, to reappraise everything, radicallly adjust the business model and come out stronger. It does take a lot of courage and plain hard work though!Gassing Station | Business | Top of Page | What's New | My Stuff