Brexit

Woken at 4am with BBC news headlines and confirmed later the UK has voted out. I have to say I didn’t expect it as probably most of the commentators didn’t.

I am a great believer in a half glass full and whilst there will undoubtedly be some challenges that will affect the Isle of Man there will be some opportunities as well.

This morning I have been at the Liverpool launch of the Isle of Man Enterprise Development Scheme which was extremely well attended with a very knowledgeable panel including a representative from HSBC, Crowd Funding, Business Angels and from SPARKS who are managing the EDS Scheme. There was of course some discussion over the impact for the Isle of Man of Brexit but on the whole the message from HSBC was positive, concentrating on the opportunities rather than the negatives.

There will be a lot more to come over the next few days but at the moment it would seem it is steady as she goes.

In due course our Protocol 3 relation with the EU will fall and what, if anything, will replace that depends very much on negotiations that happen through the UK. I suspect this may be the impetus for a little more independence and perhaps a trading relationship similar to that before we had Protocol 3.

SPARK