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Weathering the Brexit Storm

View profile for Julie Bailey
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There is perhaps only one certainty coming out of the EU referendum, which is that many, whether they voted leave or remain, were as shocked and surprised by the outcome as I was. That shock has now it seems been superseded by a continuance of the uncertainty that preceded the vote; not something that many relish and something which has never been the friend of the business community.

As to what the Brexit result means for Andrew & Co, like many other professional services firms the effect, I think, will be determined by the impact it has on our clients. In that regard we are very fortunate to have an excellent and diverse client base to which we provide legal services across a wide range of technical areas.

If, as predicted, a consequence of the Brexit vote is recession, because of the strength and depth but yet diversity of our practice, with no one particular area of our work predominating so far as income generation is concerned, we will be well placed to ride out the challenges we may face.

It is a pure coincidence I am sure, but when things took a downward turn in 2009 we had made a significant strategic and financial commitment by way of a relocation to our purpose-built Lincoln office. That proved to be the right thing to do for the business and our clients at a time when the instinct of many was to hunker down. Currently we are about to fulfil another strategic commitment to relocate our Newark office to bigger and better premises. I am confident that will prove to be just as positive.

The UK’s exit from the EU has been compared by many commentators and politicians to a divorce, something that I have a vast amount of experience of in my role as Head of the Family Team at Andrew & Co. If that comparison, and the prediction that it will not be an amicable divorce, proves to be true, I know through experience that over the coming months and years there will be highs and lows. There will be some pain but ultimately there will be an outcome and life will go on, not as before but it will go on. What I also know is that communication and a willingness to negotiate and not take unnecessary points of principle will be key to a positive outcome.

As to the political wrangling which is currently dominating the news headlines, in my opinion now that the decision has been made, the country is no different to any business in that what is needed is a strategy and the ability to be flexible within that framework. A collective commitment to the strategy and strong leadership to achieve its key aims and objectives are also essential. Let’s hope that is what we get and soon.