We were delighted to host The Royal Bank of Scotland’s Chief Economist Stephen Boyle at the Hub last week, where he spoke to a group of 50 local business people about life after Brexit.
Attendees heard Stephen discuss the impact on the Scottish economy since the vote on 23 June 2016, where he highlighted that despite immediate fears, there has been no major panic and in reality the impact so far has been limited; in fact there has been a small amount of economic growth.
Stephen suggested that in the medium term there will likely be an impact on trade, due to less inward investment, which could lead to limited productivity and therefore less growth. However, in the long term he believes that there will be continued economic growth, perhaps just at a slower pace than in an economy which wasn’t going through Brexit.
When questioned about what local businesses should do to prepare, his advice was clear: don’t focus on Brexit – let the politicians do that! As a business person focus on business growth and voice your opinions on Brexit and the needs for your business through your local trade or union bodies.
Many thanks for Stephen Boyle for sharing his views with us and thank you to all the people who attended the event.