'Don't Panic!' may be a famous line from Dad's Army, but it's very apt for the position the United Kingdom now finds itself in. 
On the back of the referendum result, the government is mandated to trigger Article 50 – the mechanism by which we start negotiations to leave the EU. The mechanism once triggered, means that unless both the EU and UK agree to extend the timeframe, at the end of a two year period the treaties of the European Union would cease to be applicable to the UK and our membership will be at an end.
That two year period means that nothing will change quickly. That is both good and bad. Good because we should see a measure of stability returning to the markets once the initial panic subsides, bad because we will be living in a Brexit limbo, and uncertainty is the enemy of business confidence.
Our Government
Over the next few months and before the Conservative Party conference, we will also see a new leader of the Conservative Party and ergo, a new Prime Minister. The outcome and the consequence it will have on George Osborne's position as Chancellor of the Exchequer is at the time of writing unknown. Again, the sooner we can put certainty back into the political system, the better. Mark Carney at the Bank of England has issued reassurance around the financial stability of the UK and of course there are contingency plans to deal with any potential instability the result may put into the system.
Challenges and Opportunities
Together with our professional networks across many of the backbone sectors and professions we will be keeping a close eye on developments and working to support businesses across the region. The good news is that we have at least a two year period in which to plan for Brexit and so we will be looking to help our clients to understand the implications and plan for the future, both in terms of the challenges and opportunities that come along as a consequence of this historic and momentous decision.
In other news, do take a look at our events below, including a seminar around Arthur Online which is specifically aimed at helping landlords together with the launch of our new Manufacturing, Engineering and Technology Alliance – METALL – more details below.
Chris Coopey
Partner and Practice Director of Carpenter Box
Read more here: http://www.carpenterbox.com/
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