Brexit: engineering a new future

Brexit Flags_   Brexit Manufacturing_

What a close call this referendum was – 52% to leave. How will things pan out for engineering companies and industry in general? Article 50 still needs to be invoked by parliament with cross party MPs officially voting in favour of brexit. The details of the mechanism to exit this side in the UK and in Brussels is not always clear, and is unchartered waters for both . The effects of this political upset are still rippling through Europe and the world one week later.

The pound to the dollar exchange rate is the lowest since the 1980s, which will effect our businesses. FTSE100 share prices have dropped significantly but have recently bounced back.

For exporters, the drop in the pound makes their goods cheaper overseas and could help lift flagging demand. Until recently, manufacturers had been complaining that a relatively strong pound was hampering their competitiveness and contributing to a slowdown in the manufacturing sector. Conversely for importers, materials & certain goods are more expensive and so hamper profit margins & profitability. Profitability may well be affected also by new trade tariffs with Europe.

Business leaders and politicians all agree choppy waters are still ahead.

I feel we need to look heavenwards as a nation in these times, for help & wisdom to see us through these unsettling times to a new prosperous and peaceful future.

Hope you have a good month

All the best

Mike

Advertisements

About Mike Osborn CEng

A Chartered Engineer and member of the Institution of Mechanical Engineers living in the UK with a passion for engineering design, technology and innovation, peppered with a little humour. Presently running a small engineering design & CAD drawing solutions business, serving mainly London and home counties. www.osborndesign.co.uk
This entry was posted in Brexit, business, Engineering, Europe, Industry, manufacturing, Politics, Uncategorized and tagged , , , , , . Bookmark the permalink.

3 Responses to Brexit: engineering a new future

  1. John Ford says:

    Thanks, Mike

    Hope you and the family have a good summer – and Jessica’s exams have gone well.

    Maybe meet up again in the autumn?

    John

    >

    Liked by 1 person

  2. Mike Osborn says:

    Sounds good – look forward to meeting up – hope you & Stacia are well

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s