We are living in turbulent times, and with the onset and reality of Brexit fast approaching, entrepreneurs and business people are facing very real struggles when they enter new markets.
Startups are unpredictable, and few new businesses actually make it past their first year of trading, let alone into their second or third. By the fourth year of trading, it’s highly unlikely that a startup business will have survived.
Many entrepreneurs are facing problems on the political and financial front, so in this article, we took a more detailed look at the struggles facing entrepreneurs in 2019.
The biggest challenge to entrepreneurialism has, of course, proven to be Brexit. While the UK’s split from the European Union was supposed to encourage business and trading, and free up finances to help generate new business, so far it’s proven to have achieved the opposite.
The problem lies primarily in the uncertainty created by Brexit, and that applies regardless of which side of the camp you’re sitting in, whether you’re Pro Brexit or a Remainer. The uncertainty has minimised spending, while the uncertain laws and arrangements that will exist once we actually leave the EU have forced many entrepreneurs to simply wait and hold back on their business ideas.
Until we have fully left the European Union, and the uncertainty has been cleared up, entrepreneurs will continue to struggle to establish new businesses in the UK. For many entrepreneurs, Brexit has also put the knife into their plans for good, and many will look elsewhere to start their new ventures if they don’t feel welcome in the UK, or if they feel their business won’t survive in a post-Brexit United Kingdom.