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Tips for Entrepreneurs Living and Working in Cornwall Post-Brexit

4th July 2019

Home to just over half a million residents, life in Cornwall can be both hectic as well as laid back, depending on the time of year in question. The duchy is highly dependent on the tourist industry and so from summer through the holidays, Cornwall can be quite busy. Each year, Cornwall sees over 4 million tourists and with growing concerns over a mass exodus in post-Brexit days, business owners and directors are in a state of limbo. Should they expand or should they close up shop and move elsewhere? If you are an entrepreneur living and working in Cornwall, here are some tips to help you see your way through this transitory stage in the UK economy.

See This as the Glass Half Full if You’re an Ex-Pat

As an American, Brexit shouldn’t affect you nearly as hard as it will Europeans, who will lose many of the benefits they had prior to the UK leaving the EU. Brexit shouldn’t affect Americans living and working in the UK simply because Brexit has nothing to do with your work visa. The only real questions surround how Brexit will affect those from EU countries now working in the UK. This is a time when you should be looking at your proverbial glass as half full! From a business perspective as an entrepreneur, just look at all those half-empty glasses you can fill!

See This as a Time for Growth

Secondly, everyone in Cornwall should see this as a time for growth. Yes, the tourist trade may suffer initially due to a shortage of workers who have been ‘forced’ home, but those jobs can be creatively filled. If you have opened a travel agency in Cornwall, for example, why not set out to advertise for overseas visitors seeking to work the tourist trade in Cornwall this year?

It may take time to get them through the legalities of procuring a work visa, but with a shortage of workers, there is always room to hope the process may be quickened out of need. Even so, this business would call heavily upon tourists spending time (and more importantly money!) in Cornwall, so there is always demand for overseas students looking for summer jobs working as lifeguards or picking fruit.

Take Time to Learn International Finance

If you want to reach a global audience in your career as an entrepreneur, the one thing you will want to do is study advanced finance. Keeping up with world economies is going to impact how you run any business with broader than a local reach, so why not use a bit of time studying for a master’s degree in business management?

This is something you can do from home or your office, and on your time, because universities like Aston University Online offer courses open to students from the UK and overseas. You don’t need to be local to apply. In fact, Cornwall will benefit from your advanced knowledge of finance if the days ahead are as financially unstable as some predict. Although the government remains optimistic, businesses are still a bit apprehensive.

Learn to Step Away from the Computer

No matter what industry you are in, a bulk of time will be spent learning or running your business in Cornwall, and that is certainly a shame. Obviously, if you are in the tourist trade, you will have gotten out and about to have an in-depth look at the places you will be taking tourists during their stay here, but for other industries, you may need to literally force yourself to step out of the office for a bit.

Cornwall isn’t all about fishing (the other large industry of the duchy) and tourism and you will soon see that there is much to see and do. One of the major complaints of entrepreneurs is that they are busy growing a business while life goes on around them. That would be a shame in Cornwall because the scenery is magnificent, the history broad and vast, and the coast is legendary and the stuff of many a novel over the years.

A Comprehensive View of Cornwall’s Economy

As of the latest figures, it is said that the two largest industries, as mentioned above, are tourism and farming, but some experts say that is set to change. Other hi-tech industries that entrepreneurs may be interested in are maritime, aerospace and e-health. Even entrepreneurs with a masters in a branch of technology would do well to get that second degree in business finance.

With so much business taking place online in the digital arena, some entrepreneurs lose sight of the financial end of running a lucrative company. International finance could be one area to explore if you are reaching out to a global audience, no matter what field you are in. Technology is expanding by the day but finance is high on the list as well.

A Final Tip for Entrepreneurs

No one needs to tell you just how strong the fear of Brexit is among UK businesses. How will Brexit really affect the UK economy, and will there really be a shortage of skilled labour once foreign workers return to the EU? If there is one thing which can be said about fear, it is that it is contagious. Don’t let that fear infect you! Keep your confidence high while continuing to advance in knowledge and experience so that you can ride the waves during the upcoming months and years.

Remember, there was a UK long before the European Union and as one of the strongest economies, the EU has come to depend on the support that businesses and consumers are reluctant to lend any more. There will still be tourists flocking to Cornwall and there will still be men and women seeking jobs throughout. Pick your industry wisely and you can be a part of the solution. That’s the best news of all for entrepreneurs living and working in Cornwall during what may very well be troubled times.

Posted by Mark at 8:58am

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