Online retail boom brings 150 jobs to Exeter
| Posted: October 26, 2016
The post-Brexit Christmas optimism in online retail is echoed in other sectors throughout Devon and Cornwall.
Data released by the UK's leading independent business recovery practice Begbies Traynorhas revealed that the number of businesses in 'significant' financial distress in Devon and Cornwall has fallen since the Brexit vote.Begbies Traynor's latest Red Flag Alert research reveals that the number of businesses in 'significant' or 'critical' financial distress between July and September this year have reduced since the nation voted in June to leave the European Union.
Ian Walker, Partner at Begbies Traynor's Exeter office, said: "These figures paint an interesting picture of how the economy has been impacted by the Brexit vote."While nationally we have been focused on the demise of one of the country's retailing giants BHS, these figures suggest that fewer businesses in Devon and Cornwall are finding themselves in financial difficulties in the past three months – perhaps a reflection of extra caution during a period of uncertainty following the Brexit vote.
"It's still early days in terms of seeing the true impact of the UK's decision to leave Europe and doubtless the economic picture will continue to evolve as time goes by and it becomes clearer as to what Britain will look like following our departure from the EU."
The number of businesses in retail, leisure, culture and tourism in 'significant' distress in Cornwall fell by six per cent quarter on quarter while in Devon numbers fell four per cent, from 4,118 to 3,934.
Ric Traynor, Executive Chairman at Begbies Traynor said: "Overall, the UK economy appears to be in a stronger position than expected following the EU Referendum result. While we wait to see whether the Government opts for a 'hard' or 'soft' Brexit strategy, businesses at least appear to be better placed to tackle any new challenges on the horizon ahead of the Government's imminent negotiations.
"However, given that the details of the future Brexit deal are as yet unknown, it is still too early to tell what longer term impact the 'Leave' decision might have on the UK economy. Clearly though, the stronger the UK economy becomes pre-Brexit, the better it will be able to withstand any post-Brexit shocks."
Online retail boom brings 150 jobs to Exeter | Plymouth Herald
Meanwhile, in the south west of the County:
MP Gary Streeter asks local businesses how they would like their Brexit - hard or soft
By Toby Leigh in Politics
SOUTH West Devon MP Gary Streeter has canvassed local businesses for their views on whether the UK government should go for a ’hard’ or a ’soft’ Brexit.
Following the June referendum all eyes have been on Westminster and the Conservative government, now led by prime minister Theresa May, to see when and how the process of leaving the European Union will unfold.
And in recent weeks the myriad possible outcomes of the complex task of disentangling the UK from the EU have been characterised as either ’hard’ or ’soft’. ’Soft Brexit’ sees Britain and its businesses continue to have access to the single market, while ’hard Brexit’ would see the UK risk losing that access.
Many politicians, who see the referendum result as a vote against unrestricted immigration from the EU, continue to claim the UK will be able to keep access to the single market while limiting such immigration, in the face of repeated assertions to the contrary from European and EU leaders.
But Mr Streeter, who voted to remain, is less definite. He said: ’There is no doubt that the UK will leave the EU in 2019. The issue is whether our businesses will continue to have access to the single market - soft Brexit - or whether if we refuse to allow free movement of people we have to forfeit access to the single market - hard Brexit.’
The MP has emailed nearly 350 businesses in his constituency asking for their views on what kind of Brexit the UK government should be seeking. He is contacting businesses of all kinds, especially firms that export or import directly into the EU.
Mr Streeter says the response from his constituents will inform his decision when the matter comes to the House of Commons for debate, and a likely vote, next year or the following, once negotiations are complete.
He continued: ’Brexit is going to happen, but this must be in a way that supports local businesses and the employment that they create. Getting the balance right will require great wisdom and will be the single biggest focus for Parliament and government in the next two years.
’I am firmly of the view that Parliament will have to ratify whatever deal the government strikes – it is what we are for.’
Any businesses in the South West Devon constituency area can email their views to the MP via gary.streeter.mp@parliament.uk .
MP Gary Streeter asks local businesses how they would like their Brexit - hard or soft | News | Dartmouth Chronicle
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