However bad a situation, there are always winners. The trick is to find these winners; celebrate them; copy them and if possible, invest in them. They will be:

1) The agile and adaptable (usually smaller, entrepreneurial);

2) The fortunate ones who have been serious about exports and now find their   goods 10-12% more competitive;

3) The multi-nationals (usually much bigger) whose business is spread across the globe and for whom the UK is only a very small part of their business;

4) The millions of businesses (yes, millions) in the UK, who don’t do international business at all, and who are not reliant on imports. Most of these will be service companies but hardly surprising since 90% of our economy is now composed of such businesses.

Note that only 10% of small and medium-sized companies (SMEs) trade with the EU.

Chris Ingram 02/08/2016