21 July 2016

What does Brexit mean for print?

When the BPIF surveyed our members before the EU referendum we found that the UK's printing industry tended to believe that staying in the EU would be better for business. This was helpful, but in hindsight I'm glad we dug a little deeper, asking our members exactly how they thought leaving the EU might affect them. They felt that of 11 measures - on everything from supply chain to the ability to attract investment - almost all would be affected. In fact, the only bright side of a Brexit they quoted was the possibility of reduced regulatory burden. So we went into June 23rd with the view that, for our industry, and while not unanimous, a majority of members indicated a vote to remain was the preferred outcome. 

At our Government & Industry Committee meeting the following week, I sat round the table with our representatives from up and down the country, from a range of types and size of business, as we discussed our hopes, concerns and the way forward. Many of our staff had already been speaking to and visiting with members, encouraging them to reassure their foreign customers - and in many cases their European employees - to remain calm. While the outcome shouldn't form a legal argument for customers to cancel existing orders, there were worries that some customers could get the jitters. Our advice to businesses has been that they should pay particular attention to their cash flows at the moment. 

We talked again about the top concerns our survey had revealed - attracting inward investment, disruption to supply chains and accessing EU markets. It will be important to harness the views of members over the coming months and years as to whether this is playing out in reality. But we ended our discussions on a positive note that - amidst the uncertainty and the subsequent need for caution - print is a strong and diverse industry. An industry that has weathered many a storm, and is now better placed to change and adapt than we were a number of years ago. 

But that's not to say that we don't have a role to play to ensure that the industry is heard in decisions affecting us. We will continue to build on our strong involvement with Intergraf, the representative body for print industry trade associations across Europe (it's reassuring to note that Norway is of course a member!) Domestically, the BPIF will continue to support our members, communicate with industry suppliers and of course lobby the new government on the industry's behalf. We want to ensure an outcome that recognises the importance of a diversified and balanced economy. We need to see a business environment that's favourable to commerce, entrepreneurialism, and manufacturing - an environment that is good for our sector. We will be engaging in that process with fellow trade associations, with the CBI, and with Government. As the saying goes, 'change creates opportunity'.

The full results of the survey can be viewed on the BPIF's website here.

Charles Jarrold,
Chief Executive, BPIF