Business development · 14 October 2019

3 key takeaways for British SMEs from the 2019 Queen’s Speech

 

Queen SME

The future of Britain, following its impendingbreakup with the EU, is uncertain. However, as when any relationship comes to a close, all you can do is put on a brave face and remain hopeful. It appears that is what the Queen was doing when she gave her long-awaited speech at the reopening of parliament earlier today.

While she does not possess the ability to gaze into a crystal ball and predict the future, the Queen does offer a motivating and refreshing glimmer of positivity (penned by her ministers) amid the stormy cross-continental separation.

But for many weathered SMEs fearing for their future, what can they take away from this regal speech?

1. A better trade system

  • “My Ministers will work to implement new regimes for fisheries, agriculture and trade, seizing the opportunities that arise from leaving the European Union”.
This may be a relief for many SMEs who operate with parties outside of Britain, specifically farmers or food partners who ship to foreign shores.

Just last week news broke of how whisky distillers in rural Scotland could face?25% tariffs on their exports, causing significant losses to an industry that employees 11, 000 people across the country. Perhaps this serves as a promise to ensure that those long-standing industries who have brought great profit to the UK will be protected and not cast aside.

2. Brighter hope for future business owners

  • “My Ministers will ensure that all young people have access to an excellent education, unlocking their full potential and preparing them for the world of work”.
This paints a promising depiction of life for hopeful young recruitees, who are yet to emerge into the corporate world. With over half of the workforce striving to start their own business, this number should only increase over the following years, if they arebetter educated.

Furthermore, the Queen touched on the prospect of a Britain that is more environmentally aware:


 
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ABOUT THE EXPERT

Laura is the Junior Reporter at Real Business and Business Advice. She's the first point of call for any PR, business owner or industry insider looking to tell a story of entrepreneurial inspiration, retell some key advice, or a ground-breaking news story. She is the core ambassador for the brand(s) and can be found attending high profile events and meeting disruptive business owners across London and beyond.

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