Losing investment

paddyrg

Cheers, Brexiters, already this morning I know of three local small businesses who have lost investment because of this, the pound is on its knees, and we're going to be spending a fortune to undo decades of work.

Has anyone's business been positively affected by the news overnight?

DKLS

My mates small manufacturing company in South Yorkshire has received some massive orders mainly from Germany and Spain.

Another mates company has just received a huge payment on file for future work.

Another mate has made 10k, over the weekend by buying and selling cars and goods off Immigrants leaving Edinburgh.

So would hazard a guess there will be winners and losers in this result.

Pennywise

paddyrg wrote: »

Has anyone's business been positively affected by the news overnight?

I think it's far too early for new stuff to happen. I'd expect things to just carry on as normal until there are some firm plans one way or another. I've just heard from a client that their investment has been granted to buy a hotel - but then again, we never expected if to be affected as the proposals/plans have been in progress for several months and nothing's happened to jeopardise their business plan.

thebigbosh

What I'd like to hear about (from leaders) is where future growth is going to come from in the post-EU UK... we've heard of a number of companies planning to leave UK because we're out of the European Union, but what makes us attractive for new investment (if at all) to counteract the loss of job/taxes/business?. Is it that we shed the shackles of EU restrictions and can trade more freely with non-favoured countries such as Iran, Russia, NKorea? Or something else? Or that actually there's no new growth prospects and we just have to suck it up for the benefit of some membership cost returned?

Pennywise

thebigbosh wrote: »

What I'd like to hear about (from leaders) is where future growth is going to come from in the post-EU UK...

Given the sheer volume of bureaucracy and red tape, etc., there's a lot of untapped business potential in our own country, where UK residents and small businesses are unwilling to expand or create new businesses because they are scared of falling foul of one law or regulation or another. If there were some real incentives offered for businesses to grow, alongside a relaxation of some of the laws and regulations, then huge numbers of new jobs could be created internally, to supply our own country and to increase our exports. If the exchange rates were favourable to exporters, this would be even better. Outside the EU, we may escape the rules preventing state aid to our own businesses, so the UK govt may be able to provide real help to ailing industries to keep them going short term and return them to profit long term, such as the steel industry.

We've become too dependant on big business, globalisation, etc., which has snuffed out new start-ups and smaller businesses, and increased our imports and hence the balance of trade deficits. Too many businesses are now foreign owned, meaning the profits leave the UK to benefit other countries instead of ours. Freedom to nurture our own businesses could make a massive difference to the UK.

BJV

thebigbosh wrote: »

What I'd like to hear about (from leaders) is where future growth is going to come from in the post-EU UK... we've heard of a number of companies planning to leave UK because we're out of the European Union, but what makes us attractive for new investment (if at all) to counteract the loss of job/taxes/business?. Is it that we shed the shackles of EU restrictions and can trade more freely with non-favoured countries such as Iran, Russia, NKorea? Or something else? Or that actually there's no new growth prospects and we just have to suck it up for the benefit of some membership cost returned?

Being able to negotiate our own trade deals instead of having to have a blanket scheme we can get a deal which is right for us. As for future growth. The money that we no-longer have to spend propping up other economies can go to creating jobs and education, NHs here.

I understand that we are all worried but I really do think it is a little too soon to expect the wrongs of generations to be sorted out in one full swoop. ( or weekend ha ha )

BJV

Pennywise wrote: »

Given the sheer volume of bureaucracy and red tape, etc., there's a lot of untapped business potential in our own country, where UK residents and small businesses are unwilling to expand or create new businesses because they are scared of falling foul of one law or regulation or another. If there were some real incentives offered for businesses to grow, alongside a relaxation of some of the laws and regulations, then huge numbers of new jobs could be created internally, to supply our own country and to increase our exports. If the exchange rates were favourable to exporters, this would be even better. Outside the EU, we may escape the rules preventing state aid to our own businesses, so the UK govt may be able to provide real help to ailing industries to keep them going short term and return them to profit long term, such as the steel industry.

We've become too dependant on big business, globalisation, etc., which has snuffed out new start-ups and smaller businesses, and increased our imports and hence the balance of trade deficits. Too many businesses are now foreign owned, meaning the profits leave the UK to benefit other countries instead of ours. Freedom to nurture our own businesses could make a massive difference to the UK.

I am a small business owner and could not agree more. We ( The collective we) have an amazing talent and it will be good to see what we can do with this opportunity.

Forget the exact amount but how many Million pounds a week did the polish prime minister say was leaving the Uk destined for Poland? Why not use the multi cultural abilities we have and keep it here instead?

Gleeful

I'm negatively affected. Thanks Brexiters. I hope you're happy to watch our country go down the toilet. The pound is near worthless already.

Aquamania

We must bring unity of spirit and purpose and condemn hatred and division wherever we see it.

Gerorge Osborne - 27 Jun 2016

Who'd like to join me in the condemnation of those they perceive as being divisive in this thread ?

Witless

Gleeful wrote: »

The pound is near worthless already.

What's the rate today?

The tabulation may not carry through so I'll include the link for you

GBP/EUR

Year Average Min GBP/EUR Max GBP/EUR
1995 1.185159 1.142020 1.260895
1996 1.210786 1.151982 1.349448
2008 1.258897 1.021920 1.348982
2009 1.123272 1.040583 1.186873
2010 1.166710 1.097213 1.233959

etc

http://fxtop.com/en/historical-exchange-rates.php?C1=GBP&C2=EUR&A=1&DD1=01&MM1=01&YYYY1=1990&DD2=27&MM2=06&YYYY2=2016&MA=1&YA=1&LANG=en&CJ=0

looknohands

I've benefited short term, i export services to US, had invoices outstanding in dollars that increased in value considerably. Have also had an increase in enquirers from US clients.

I'm not sure long term how it effects my business, i work in arts and media and I've heard a lot of rumbling so we shall see.