Will Cornish Businesses Survive the Upcoming Challenges?

A few days ago, the Institute of Directors warned business owners about the possibility of more challenges and uncertainty ahead of Brexit. Companies in Cornwall could enter a state of limbo after the snap election saw the Conservative Party failing to win a majority. This would lead to more uncertainty as the UK enters its Brexit negotiations with the EU.

There will be a lot of big challenges for businesses to face in the coming months. Kim Conchie, the head of Cornwall Chamber of Commerce, even said that Cornish businesses need to take more control over their future. Do local businesses have what it takes to survive the upcoming challenges?

A Stronger Local Root

The Brexit negotiations will put a lot of pressure on both the government and businesses. In this case, however, businesses should maintain their bargaining power and put more pressure on Westminster. Cornwall businesses must assume the leading role and take charge of forcing a better deal. Mr Conchie later stated just how big of a bargaining power businesses have against the government.

"Look, it is us who create the jobs and it is us who create the prosperity so it really is time that we took the lead in any conversations with government and their ministers," said Mr. Conchie during the CLA Friday Breakfast Debate.

He also recognised the fact that Cornwall is more important to the Conservative government than ever before. Mark Duddridge, the chairman of the Cornwall & Isles of Scilly Local Enterprise Partnership, also stated the same fact. This puts Cornwall and the local businesses in the perfect position to gain more influence no sensitive issues for the country.

Businesses Fighting Back

The stream of uncertainties flooding the economy is certainly not good for businesses. A more stable economy with a clear direction would be ideal, but that doesn’t mean businesses are taking the recent changes and political developments without doing anything.

In fact, many local businesses in Cornwall already have deals with their European counterparts. Companies are using tender and bid writer companies to help them acquire more projects, negotiate better deals, and pursue more lucrative contracts, both in the UK and in other parts of Europe.

The move may have begun with bigger companies, but it is an approach also used by smaller enterprises. The entire business community – through organisations such as the Cornwall Chamber of Commerce and the Institute of Directors – is acting together.

More to Come

How the government performs in its present state remains to be seen. The Conservative government and Theresa May will have to do some deals to form a strong cabinet that can tackle the immense responsibility of negotiating Brexit deals.

In the meantime, Cornwall is positioning itself as an influential force in the negotiation while local businesses are growing and doing so much more to take the local economy forward. It is interesting to see how far this joint effort can take Cornwall through the political limbo and whether other areas in the country will use the same approach to protect their and the country’s economic interests.