Brexit and business: What does the triggering of Article 50 mean for our customers?
Unless you’ve been living under a rock for the last couple of years you’ll be thoroughly familiar with, and perhaps even tired of, the term ‘Brexit’. Brexit is a portmanteau, a blending together of two words to create a new, often more popular word. It was created to address last year’s European Union referendum, and literally means Britain’s Exit. I am, of course, digressing, because the origins of its name are the least complicated aspect of the whole Brexit process. It’s frustrating, to say the least! After all, our fallout from Europe will potentially affect countless businesses of all sizes and shapes across the country – and no one can say, with any certainty, whether this will be for the greater good or not.
So, what is Article 50 and what does its triggering mean for British businesses? I’d like to take a moment to clarify a few things, and offer a little reassurance – if that’s at all possible at present.
What is Article 50?
We’ve been dreading the arrival of Brexit since the result of the referendum last June, but the truth is that nothing can happen until Article 50 is triggered. Ah, phew! Well, perhaps not, since Prime Minister Theresa May intends on unleashing the protocol by the end of March. Article 50 can be found within the Lisbon Treaty, otherwise known as the Treaty on European Union. It outlines the process by which member states may withdraw from the EU.
How long will the process take?
Officially, the process for leaving the EU should take two years. However, this timescale could be significantly lengthened if other member states disagree with the UK’s terms and conditions. Theresa May’s triggering of Article 50 will act as our formal notification of intent to leave; our resignation letter. Everything that happens thereafter will depend upon the trade deals and terms of exit that we, and other member states, can negotiate.
What does this mean for my business?
I’d love to have all of the answers for you, but at the moment the future is uncertain. The UK’s departure from the EU will be subject to all kinds of trade deals, plans, and conditions, which will be fought over and discussed for the next two years – and beyond. For example, the EU has dictated many of the laws by which our businesses are governed; we’ll be in need of a few regulations of our own. The EU influences many of our employment laws, including those that dictate the free movement of workers, the length of the working day, and even pay. How businesses will function without them is unclear. We’re also going to need to place nicely with our neighbours in order to come to a few new trade agreements. We’ve not always been so friendly in the past, and so now is the time to build a few bridges. What is clear is that Brexit has implications for each and every business in the UK – and beyond.
Whatever happens, it’s important that British businesses stand together and support one another. The road ahead is likely to be a bumpy one, and it has never been more important to buy British, offer local and independent businesses your support and custom, and give one another a friendly nod as you pass. It’s our mission to supply businesses of every size and kind with the right call logging and recording technology to suit their needs, and we will endeavour to do so whatever the future brings.
Please do give us a call on 0333 0022 440 or contact us to investigate your options, and to find out how our Call Logging and Call Recording software can give you the edge in the face of Article 50 and Brexit. We’ll be waiting to guide you through each step of the process.