Brexit Vote Stirs Uncertainty in Printing Industry

Brexit Vote Stirs Uncertainty in Printing Industry

The British printing industry has been quick to respond the country’s shock vote to break away from the European Union.

According to PrintWeek, the recent British Printing Industries Federation (BPIF) poll revealed that 49% of its members wanted to stay in the EU, 27% said they would vote out, while 24% were undecided.

BPIF Chief Executive Charles Jarrold opined: “The priority is for government to remove that uncertainty and stabilize the situation. We will work with other trade associations and government on what comes next, and to ensure the needs of our members, made up of a great cross-section of businesses, are addressed in creating these new arrangements.” He deemed the industry should utilize the situation to create a much more balanced economy between services and manufacturing.

The Brexit vote outcome has stirred varied reactions among printing industry leaders. Some remained neutral and calm to seek opportunities in the uncertain situation and some were disappointed and worried about the bad effect it would bring to business. In addition, some were still optimistic with the future.

Peter Gunning, Chief Executive of Web-to-Print PLC Grafenia, noted, “If there’s one thing markets hate, it’s uncertainty. Now we face two years of uncertainty while the country figures out how to disentangle itself from the EU. Will businesses be inclined to delay spending decisions until they know more? I hope not. But looks like we are all in for a bumpy ride.”

Tony Bates, the managing director of Nottingham-based SME Fast Graphics, said: “Interesting times for business, possibly short-term pain for longer-term gain. It will be interesting to see what happens to the rest of the EU in the wake of our decision.”

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