With several weeks since the announcement of a hung Parliament, the result has left many Britons dissatisfied and unsure about their economic future. However, the idea of a softer Brexit could be a hugely beneficial for small businesses in the UK.
We have to consider that the hard Brexit approach, encouraged by the Conservatives, may have created even greater uncertainty and jeopardised relations with other EU states.
But whilst the hung Parliament will lead to a softer Brexit, this puts the EU negotiations firmly on hold.
For small businesses, they have the peace of mind knowing that there will not be any drastic changes to their business, at least in the short-term, and this could have had implications for compliance, tax, premiums, fees, employees and more.
For an investor's point of view, a Britain not going through a heavy Brexit transformation opens itself to more confidence and investment from outside of the country. Especially with a weaker pound, there is a chance for external investment to thrive.
Budding entrepreneurs can also take advantage of low barriers to entry and the opportunity to set up shop or continue trading in the EU, before Brexit kicks in.
There are some business areas expected to grow during the era of a hung Parliament. A weakened pound may increase the demand for price comparison for money transfers as Brits going abroad may seek out the best deal when converting money.
Furthermore, a new government could introduce a new budget, leaving pensioners and the retired in the dark over their policies - giving rise to a market of investment and savings alternatives.
By Sara Konjevic, Marketing Manager at Centros Unico, a leading international beauty clinic with over 200 branches in 7 countries.
