On Friday 13 December 2019, the United Kingdom had given a new stronger mandate to the Conservative Party to rule over it for the next five years.
In the three or so years leading to this, the UK Parliament was embroiled in indecision and infighting as a result of the referendum for the UK to exit the European Union. Those three years can now be put to bed as the new government, headed by PM Boris Johnson, will now seek to take the UK out of the EU on 31 January 2020.
This promises to be a new beginning for the UK.
Despite misgivings from experts and business leaders, what is true of the country is that it has suffered major shocks to its economy before and has always been able to overcome it. By sheer grit and determination, we have no doubts whatever that the UK economy will weather this latest storm.
But will there be a storm?
Economic indicators put out by the Office of National Statistics have shown that forecasted GDP in the last quarter of 2019 will only be marginally up 0.1%, output has flatlined and, the Bank of England has shown business investment has not grown since 2016.
It all seems rather depressing. But these are issues which will be high on the list of priorities for PM Johnson as the country seeks to forge ahead in a post-Brexit economy. It will be likely that many new business friendly initiatives will be made to allow businesses in the UK to thrive (not just at home but overseas) and also to open up the market to non-EU businesses wanting to take advantage of a more global Britain.
Perhaps one of the most significant indicators was that the pound immediately strengthened against the US dollar when the results of the elections became clear (this has since come down at the time of writing). Traders can always smell money.
In the next few months, the UK government will be revealing what it proposes to do to grow the economy post-Brexit, and for those of you considering the UK as a place to do business or invest, there is no better time to ready yourself.
If Boris Johnson is to be believed, his government’s policies will be seeking to unleash Britain’s potential.
If you are planning to enter the UK market or invest overseas, we can help. We have the knowledge and contacts both in the UK and abroad and can help make your next international business venture a successful one.
Contact us on 07885 874873 or email email@example.com