What do you think the effect of Britain
leaving the EU will have on your
business if any? We are a local business
serving the local business community
so I do not foresee any major changes
for us.
Does your company do business
with Europe currently and would this
change if we voted to leave? Not to any
great degree so no change for us!
Name:
Barry Carden
Job title:
Managing partner
Business name: Cardens Accountants
Name:
Ian Poysden
Job title:
Managing Director
Business name: IEP Financial
What do you think the effect of Britain
leaving the EU will have on your
business if any? A Brexit is likely to
have a minimal financial impact to our
business, but in the short term it will
create challenges within our client’s
portfolio’s.
We believe that Brexit would have little
impact on global economic growth,
unless it was deemed as a warning that
the EU/Eurozone could break up but
other possible impacts include:
• Likely to be a negative impact on
UK economic growth, depending on
whether there was a soft or hard exit
from EU.
• Sterling would continue to weaken,
thereby boosting UK based global
companies’ competitiveness and
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How do you think that an exit from the
EU will impact on your customers?
We have several clients who trade
significantly with Europe but I doubt
they will be heavily affected, I do not buy
into the ‘europe will not trade with us’
argument
ensure currency translation derived
earnings upgrades.
• Gilts would probably underperform,
given the economic uncertainties and
the imported inflation risk
arising from Sterling weakness. We have
a number of clients with Gilts so we
would look at how best to support and
protect their investments here.
• Many UK retailers would struggle
as they tend to buy in stock from
overseas. Imported inflation could eat
into consumers real disposable income
and this will also affect the performance
of retail banks.
• There would be negative implications
for the outlook of the central London
commercial real estate market.
• Some asset prices would be impacted
by speculation that another Scottish
‘independence’referendum might be
forthcoming.
All of the above would in some way
affect our clients and as their Advisers
we will be heavily involved in looking
after their portfolios through the possible
transition.
Does your company do business
with Europe currently and would this
change if we voted to leave? Not
directly but we do work with a number
of other businesses who do work
closely with financial markets within
the EU and they will be affected. For
instance, our investment partners may
need to consider reducing exposure
to domestically focussed UK equity
holdings for our clients where this is
applicable.
Do you feel that you have been given
enough information to be able to make
a fully informed decision on whether
to leave or not? As you are comparing a
current know with future unknown, I think
it is very difficult to accurately assess
the position and therefore no amount
of current information can predict the
future, only guide our view on it.
There are lots of ‘facts’ in the domain
now but they are spin and opinion not
facts which is why the decision is so
difficult.
For purely business reasons
would you vote to stay in or leave?
Businesses always prefer certainty over
the unknown so I think this makes us in
even if we are not convinced it would
give us the best long term prospects.
There would of course be changes to
how all businesses interact with the rest
of Europe after a Brexit, but we hope it
doesn’t come to that.
How do you think that an exit from the
EU will impact on your customers?
Our clients will need additional advice
if a Brexit took place, particularly those
who use us to advise on investments and
pensions. It is difficult to say exactly as
we have such a wide range of clients but
there will be many, such as those who
work for EU companies based in the UK
or corporate clients who work closely
alongside EU partners who may find
themselves in a very different situation
financially if Brexit took place.
Do you feel that you have been given
enough information to be able to make
a fully informed decision on whether
to leave or not? As a business we have
been keeping a close eye on the political
movements and opinions over the past
few months. There will be many people
who will argue they haven’t received the
information they need. If you ignore the
tabloids and stick to the hard facts on
the pro’s and con’s everybody should
be in a position to make an informed
decision. The bookmaker odds currently
support us staying in Europe. Not always
a good guide, but it does indicate ‘joe
public ’ are putting their money on staying
in Europe.
For purely business reasons would
you vote to stay in or leave?
Stay in.