Brexit: Surving and thriving

Peace-man-NEW-resized.jpg

Change may be painful but it happens to make things better, says Mike Smith, director at Grown-Up Solutions.

 

Brexit. It’s not just a term, it’s a thing. It’s a movement, a belief, a challenge, an opportunity. It is also definitely happening.


Exactly what it means for our industry, and for the country as a whole, will become clear over the coming months. I personally believe we will prosper. Yes, there will be some short-term pain. Yes, there will be some political mudslinging. But we can do this. We will do this. We will be better, stronger, more competitive, more prosperous, and more influential.


We are leaving the EU, not Europe. What the EU forgets is that there is another market out there. It’s called the Rest Of The World. It’s bigger than the EU, it’s been around for longer and it’s growing faster. I run a micro business based in the UK, because this is where I choose to live and because I believe it’s a great place for business. We export. In the last two years we’ve worked in the UAE, Saudi Arabia and Azerbaijan. We are currently discussing projects in China, Qatar and the USA. None of those places are in the EU.


The important thing is that we don’t talk ourselves into a crisis. This isn’t immediate, it’s not an instant exit; it’s the beginning of a period of change that will last for years. Any change is painful but remember that the whole point of it is to make things better.


My top tips for surviving and thriving during Brexit are:


1. Don’t panic. Nothing has changed in the short term, and won’t in the immediate future. All our existing trade agreements are still in place; we are not going to get an emergency Brexit budget. Business as usual is the way to go for the time being.


2. Reassure your team. We are not going to ban migrants; no one is going to be sent home. If you have family and friends living outside the UK, in the EU or anywhere else, they likewise are not going to be forcibly repatriated.


3. If you export goods or services, you’ve got a lot cheaper since the referendum. Make the most of it. Remind your international clients what you can do for them and what you charge. You are currently able to offer them a serious bargain.


4. If you import, you have been affected by the fall in sterling. Talk to your bank or currency exchange service. Most banks offer foreign currency accounts to their business account holders and also offer forward exchange contracts at fixed rates, often beating ad hoc deals.


5. Look outside the EU. We live in a world of increasing globalisation and there is a whole world out there. If you already import or export you are half way there. If you don’t then maybe this is a good time to start.


6. Don’t forget about domestic clients and suppliers. Whatever happens, a pound is still worth a pound in the UK. Review your client and supplier lists; you may be able to get a better deal or offer a more competitive service if you focus some attention on the UK market.


7. Take this opportunity to review your business plan. Does Brexit actually affect you? If not, good. If so, how? Can you turn any uncertainty into opportunity?


Our industry constantly adapts to find new ways to attract, engage and entertain our clients. It’s what we do. Uncertainty and negativity are the biggest challenges we face at the moment so let’s be positive, let’s adapt and let’s seize the opportunity to get our own house in order and make sure we are best placed to thrive, whatever happens next.

Mike Smith
Posted by Mike Smith
PopularComments
Twitter Facebook Google+ LinkedIn

Related Stories

Others on EN

Show or tell?

Show or tell?

Roopi Woodall, marketing manager at the QEII Centre, asks if the art of conversation on social media is dead – and how to engage with audiences if that’s the case.
You get what you ask for

You get what you ask for

Sue Berry, managing director at TimelessTime Ltd, discusses the importance of people metrics and measurable objectives.
The Anti Cyber Attack Checklist

The Anti Cyber Attack Checklist

Following the global cyber attack on 12 May, event tech supplier RefTech has compiled a checklist for individuals and companies to follow to help them reduce the risk of future attacks.

EN Awards Highlights

silverstream.tv

Most Read Stories

Fit for the 21st century

Fit for the 21st century

Andrew Harrison, ESSA director, says we should always fight to bring talent into the industry and encourage an appetite for success.
I'm a believer

I'm a believer

Sam Cande, group commercial director at Centaur Media, says no secret sales technique can compete with belief in a product.
Lourda Derry: Making the connection

Lourda Derry: Making the connection

Lourda Derry, director of Easyfairs UK addresses the science behind operations and the profile of our audiences.

Latest News

AEO and SISO launch Independent Organiser Network

AEO and SISO launch Independent Organiser Network

The Association of Event Organisers (AEO) and the Society of Independent Show Organizers (SISO) have entered into a reciprocity agreement following a meeting between their members last month.
BRICKLIVE to partner with Toys R Us

BRICKLIVE to partner with Toys R Us

Lego event BRICKLIVE has announced a new partnership with toy megastore chain Toys R Us, which will be hosting a pop-up at the show.
First five shows confirmed for Farnborough

First five shows confirmed for Farnborough

National Pet Show, Home Building & Renovating and more have been confirmed by Farnborough International Exhibition & Conference Centre, which will open in early 2018.

Latest Features

Students: Pests or guests?

Students: Pests or guests?

It’s a question all organisers have to address – what should my show’s relationship with students look like?
Flying the nest

Flying the nest

Ever thought about going freelance? Do you have what it takes to go solo? Three event professionals tell EN their stories of building their own businesses.
Spreading the word

Spreading the word

With Global Exhibitions Day just a couple of months away, EN asks what three global exhibition associations are doing to celebrate this year.

Latest Galleries

Grand Designs Live 2017

Grand Designs Live 2017

The 13th edition of Media 10’s Grand Designs Live returned to ExCeL London from 29 April to 7 May, featuring more than 500 exhibitors across six key sections. Grand Designs star Kevin McCloud one again hosted the nine-day exhibition.
Insomnia60

Insomnia60

Over 50,000 video game fans from across the country descended on Birmingham’s NEC on 14-17 April for Insomnia60, the UK’s largest gaming festival.
A sneak peak at Somerset House's new event space

A sneak peak at Somerset House's new event space

Some of the industry’s leading event organisers were treated to an exclusive preview of Somerset House’s largest and most versatile indoor event space at an open house event on 19-20 April.