General Election 2019: ‘Businesses need certainty’, says Hollands
As the UK heads to the polls, 25-year old entrepreneur Ed Hollands gives us his thoughts on the General Election and the challenges Brexit poses for the haulage sector. Nottinghamshire-based Hollands is the founder of Driven Media – the Derbyshire mobile advertising company that received a £30,000 investment from Dragons’ Den’s Jenny Campbell.
I believe Brexit will be bad for business. We currently have access to a huge market with no tariffs and within easy reach. Surely it makes business sense to use that rather than trade over longer distances? And potentially more tariffs? There’s also no guarantee that we will get a favourable deal from the USA – a lot of hopes seem to be pinned on that.
If a Brexit deal is done before 31 December next year, the UK will remain bound by EU rules during a transition period. This could create yet more uncertainty, and in such times businesses become even more risk averse. Trade can grind to an all-time slow or just halt. We risk a self-fulfilling prophecy which could lead to a very deep recession.
That’s good for no one. Often this slow-down will be based on perception rather than reality, but it can have a massive impact, particularly on the SME sector which doesn’t have cash reserves to ride a long-term storm. Many small businesses could go under and the economy will be the poorer for it.
The Road Haulage Association agrees with me that a no-deal Brexit would be terribly damaging to our sector in particular.
As for voting, I’m probably going to vote with my gut for the pro-Remain party – the Liberal Democrats. In my seat there’s a huge Labour majority, but I feel I have to go with what I think is best for business in my industry. Businesses need certainty and Brexit cannot give us that.
