Brexit inches closer as Johnson wins Conservative Party Leadership

Brexit brings uncertainty to small business

On Tuesday, by a vote of nearly 92,000 to 46,000, Boris Johnson won the candidacy for leader of the Conservative Party. Tomorrow, he will walk into 10 Downing Street as his hero before him, Winston Churchill, and begin his role as Britain’s next prime minister.

Johnson began his glamorized career as a journalist in Brussels before becoming the mayor of London from 2008 to 2016. After his role as mayor, Johnson became the “face of the winning Brexit campaign during the June 2016 referendum.”

His win reflects a nation of Tories who want someone that will deliver Brexit.

Addressing the Queen Elizabeth II Center, he said, “We are going to get Brexit done on 31 October and take advantage of all the opportunities it will bring with a new spirit of can do.”

The Washington Post reports, “Johnson will have just three months to come up with a plan that can win over both E.U. leaders and the British Parliament.”

The EU Commission’s Brexit negotiator, Michel Barnier, said he was “looking forward to working with Johnson to facilitate the ratification of the withdrawal agreement and achieve an orderly Brexit.”

In contrast, the BBC reported, Labour leader Jeremy Corbyn reacted to the news tweeting that he had “won the support of fewer than 100,000 unrepresentative Conservative Party members,” but “hasn’t won the support of our country.”

He added, “Johnson’s no-deal Brexit would mean job cuts, higher prices in the shops, and risk our NHS being sold off to US corporations in a sweetheart deal with Donald Trump.” 

As part of the changeover, on Wednesday, ousted Prime Minister Theresa May will deliver her last remarks before heading to Buckingham Palace to resign.

William Booth and Karla Adam for The Washington Post write, “Her failure to deliver Brexit on time was the reason her Tory lawmakers ousted her.”

Continued, Brexit is “a prospect that frightens many economists and leaders of British businesses, fishing and agriculture, who rely on tariff-free trade with the continent for their profits.”

What you can expect next?

Change is imminent for not only the UK and EU but also globally, Brexit could mean stark adjustments in the way trade, currency, and business are handled. Overall, there is a general uncertainty as to what the Brexit timeline will mean for small businesses.

Concerns include rising challenges in trade deals, a reorganization of the global supply chain, and a rise in the Pound or Euro.  

Beat Brexit Program

Paying in Pounds £? See how Veem is helping you save ahead of Brexit here.

In response, Veem is offering the Beat Brexit Program to help alleviate the stress and concerns small businesses could have with Brexit. For every £100,000 spent on goods and services through Veem, UK businesses will receive £1,000. 

The program helps businesses cover possible pricing fluctuations, foreign exchange shifts, and other unexpected consequences of a UK-EU split.

One thing is for sure, change is imminent in the wake of Johnson’s win. 

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