With the dust starting to settle after Brexit, Paul Barritt, Managing Director of EOGB Energy Products Ltd looks at the impact leaving the EU could have on EOGB and how the burner manufacturer is preparing for what the future may hold.
Whichever way you voted, in or out, the question today is still the same. What do we do now?
It was obvious to all that there was no plan B. Everyone’s viewpoint is different, but generally most are confused and unsure about the post Brexit outlook.
This is not surprising when this multi-media world prefers to present its views with shock and awe instead of truth and clear, unbiased information. Even our chosen leaders have decided the task ahead would be too much for them, leaving the country wondering, where do we go from here?
This nation has always been resourceful with a never give up attitude and the ability to be positive by simply thinking and making the best of any situation. When did this change?
For EOGB very little has changed, we were already adapting to comply with tougher more restrictive legislation to offset climate change, even though other European members do not seem to play by the same rules.
How will this affect EOGB as a business?
EOGB has many trading partners in Europe. What impact this will have we can only wait and see. Without clear leadership and guidance from Westminster and their plans to move forward, we can only keep calm and carry on.
The pound has become weaker against both the Dollar and the Euro and this is likely to continue for some time. This will affect those items whose origins are outside the UK, making them more expensive - this could be spares, components or complete products.
Our main competitors will also suffer similar issues however, effectively equalising any potential differences.
Adversely, the price of our products for export become cheaper, which may encourage increased sales. Although in time, this could be offset if any import levies are applied.
Being an SME we have a small dedicated team of long-term employees and each member has an interactive role with the ability to influence company direction and decisions. Our requirements are more about attitude, willingness to learn and a flexible approach to the company’s needs. Our strength is in our ability to quickly adapt to suit any situation.
The UK industry has always been unique and trying to harmonise our standards with Europe has been difficult at best. The idea of getting all European countries to do things the same way, using the same regulations, especially when there are such varied, established industries and cultures, like transport, gas, oil and heating, the bureaucracy is overwhelming.
In time we may choose to disentangle ourselves from this, allowing us the opportunity to align them more towards the unique needs of our industries. Reducing the amount of red tape and unnecessary extra costs imposed on us by Europe, enabling us to be more competitive in our own markets. Unfortunately any changes would take years to implement.
What’s next for EOGB?
With the absence of any real data or Article 50 trigger date, EOGB’s best option is to monitor the situation as it unfolds and take some simple actions to put us in the best possible position to tackle any potential scenario.
A positive attitude is key and we’ll be focusing about growth, as disruption often creates good opportunities.
We’ve done it now! Let’s make it work.