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UK in shock, but positivity and calm now needed

This morning’s decision by the people of the UK to leave the European Union will be celebrated by millions, but has also left millions in shock—including many of those who voted to leave as a protest without thinking it would ever really come to pass.

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The decision by the United Kingdom to leave the European Union will be marked forever as a moment that changed the role it plays in the world, whether that role is strengthened or diminished remains to be seen

The next two weeks will see whether this referendum vote will make or break the UK. The Pound has fallen by 10 percent and the FTSE 100 fell by 8 percent on the news. The latter has recovered a little, but it says very clearly what investors and foreign markets think of this decision. The Government and our biggest businesses will now go all out to stabilise things, and this is a very critical time for the future of our country. If the Pound and FTSE remains consistently depressed for another two weeks, then it indicates we will be in for some very hard work to find new resources to underpin our prosperity as a nation. It will also start to create a self-fulfilling prophecy were a depressed Pound and FTSE will spook further investment, and so keep it depressed.

My strongest possible advice would be for the graphic arts and visual communications industries to remain calm, continue to work strongly and positively, and not change their strategic direction until it becomes very clear how this vote will affect our economic future. We now need to pull together and retain our positivity 100 percent, and remember we are a very strong nation with an incredible wealth of national and international resources that will ensure we come through this period to a strong future. As a country now we need to show the world that we remain a global power and that their investment is safe with us.

My strongest possible advice would be for the graphic arts and visual communications industries to remain calm, continue to work strongly and positively, and not change their strategic direction until it becomes very clear how this vote will affect our economic future

After some initial canvassing this morning, with more reaction to come throughout the weeks ahead, the first major industry commentator to weigh into the fray is Marian Stefani, chief executive officer of the Independent Print Industries Association (IPIA): "Our membership views reflected the division in the country and this is what happens in a democracy. Personally I sincerely hope that with such a close result it is the start of productive negotiations where both sides see the advantage of working together to reach the best relationship we can going forward.”

David Catanach, the director of the British Sign and Graphics Association (BSGA) also weighed in: “We have done it now, and now it is all about what are we going to do. I think business in our industry will continue regardless and that we will still maintain the regulatory standards and regulations that we have picked up along the way and possibly improve upon them at our own space, speed, and requirement. The majority of sign and print industries don’t really export, so this will not be the major issue, but import tariffs will need to be very closely watched.

“There will undoubtedly be turmoil for a while, but once people begin to realise that life will carry on, it will stabilise and investment will pick back up again. We really must not talk ourselves down, if we think negatively then that will be the outcome. Everyone has to have a positive mental attitude to ensure that we come out of this in the right direction.

Do not panic is my very strongest message, but I would advise that you think about a set of plans and strategies that you can put in place that will react to the most likely pathways this decision will take us on

“You cannot just keep saying we should have stayed, the fact is we are leaving, now we need to make the very best of this situation. The next two to four weeks will be hard for many businesses that were waiting on investment decisions, as the leave vote will of course make people hesitant to commit funds until they know where the economy is headed.

“I am hesitant to to say keep calm and carry on or I will get some mugs thrown at me, but that is my best advice. It is very difficult for any business person to predict what will happen in the next two years, what may be certain to change is tariffs on imports. Do not panic is my very strongest message, but I would advise that you think about a set of plans and strategies that you can put in place that will react to the most likely pathways this decision will take us on.”

With more reaction to come in over the coming days and week from around the industry, we will keep you right up to date with real opinion, business insight, and analysis on how this historic vote is likely to affect our industry.

If you have an interesting story or a view on this news, then please e-mail news@signlink.co.uk

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