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EU Referendum: North East businesses and leaders react

After months of bitter campaigning, the UK has voted to leave the European Union following yesterday’s EU referendum.

It is certainly an emotive issue, and something everyone has strong opinions on, so Bdaily North East has canvassed for some early reaction from North East businesses and leaders.

Andrew Hodgson, North East LEP

“Last night the people of the North East clearly voted to leave the European Union (EU).

“The North East LEP is committed to improving the economic success of the North East irrespective of the political landscape. We are very aware of the many ways in which this region has benefited from being a member of the EU.

“This has included access to European trade and investment and European funding, which has helped to regenerate our towns and cities, support business growth and investment in science and support many of our rural stakeholders including farmers.

“We will be seeking assurances from the Government that it will help us reduce the impact of leaving the single market in terms of funding, jobs and investment.

“The North East is the only UK region with a positive balance of trade. Working with our public and private sector partners our focus must be on maintaining this status quo and supporting those who will be most affected by the decision to leave.

“We have a very clear Strategic Economic Plan. It is now more important than ever that our entire community commits to increasing its skills base and creating more businesses, whilst taking more local control of our choices by supporting regional devolution.”

Sean Bullick, NE1

“The people of the UK have spoken and now Government and business must rally together to secure the best possible deal for the North East and the UK as a whole. Our primary concern is for the Government to provide clarity and stability for both the region’s exporters and also central Government funding mechanisms that will replace the existing EU funds.”

James Ramsbotham, North East England Chamber of Commerce

“A significant number of our members are worried about the impact of leaving. The focus for us now is to ensure these business concerns are addressed. It is vital the Government ensures minimal disruption to trade and investment as the process of change begins.

“We also need to see measures to reassure businesses on issues such as access to overseas talent and the future of regional funding streams.

“We have an export record which is the strongest in the whole country and this must not be compromised as the decision to leave becomes a reality. The Government must now secure the best possible ongoing relationship with Europe and the rest of the world to enable sustained business growth in our region.”

Gavin Black, Gavin Black & Partners

“Perhaps trends will be clearer with the French general elections later this year and the German elections early next year,” he says.

“Meanwhile we need to look at regional issues such as Grant Aid. If it will take two years to exit the EU will the EU grant aid over a five year timescale? I suspect not in which case wil the UK government step in?

“We need to think carefully about Nissan and its supporting supply chain. There is very significant employment here.

“The EU started life as an economic union. This result is an expression of concerns over a political union of 28 countries with more to come. If it had retained the economic union perhaps the outcome would have been different.”

Chris McDonald, Materials Processing Institute

“The materials Processing Institute will continue to cooperate with its global partners as we build on our wide international networks.

“The institute is already recognised as a world-leader in materials and steel innovation with international interest in our expertise continuing to grow and we can confidently rely on this to secure global research collaborations for our UK industry partners.

“We look forward to building and strengthening the relationships we have formed with industrialists within and outside the European Union. On-going international collaboration is essential to the future interests of British industry.”

Lisa Eaton, Unwritten Creative

“This is a brave and bold decision to leave the EU and one which we must all get behind, regardless of how we chose to vote independently. We should embrace the decision as it’s likely to be the biggest change the UK will experience in our generation.

“For me, it brings about a sense of comradery; we now have the opportunity to take control and make a real difference to the United Kingdom. If we focus and work together we can become a stronger community.

“We now need to invest in our businesses and although Brexit wasn’t favoured by all of the business leaders in the country, it doesn’t have to be seen as a negative. We are walking into the unknown, and with that, can sometimes come fear, but we must all stick together and focus on how we are going shape the future of this great nation.”

Nigel Mills, Entrepreneurs’ Forum

“While this was not the result the majority of the business community, myself included, hoped for, I am confident that the ingenuity and drive of the region’s entrepreneurial businesses will overcome any obstacles it causes.

“What we need now is certainty, ideally in the form of Government confirming the continuation of all business support and investment the region currently receives from the EU, and setting out a timetable for new global trade negotiations. In the North East the devolved powers agenda and the Mayoral elections in May 2017, plus our active participation in the Northern Powerhouse, should be our renewed focus.”

Graham Robb, Institute of Directors North East

“There is no time for political recriminations. The first priority is to steady the economy and our political leadership should come together to heal divisions. In business it is time for cools heads to make best of a new era.

“The Bank of England has rightly reassured the world that it has the capability to ease market turbulence. Given that the Prime Minister has resigned to enable a new leader to negotiate an orderly exit from the EU, I will attend to my business as usual and I’m sure IoD members will keep calm and carry on.

“There are opportunities in the years ahead; the UK should promote widespread free trade with an international outlook, not retreat into any kind of isolation.

“The Prime Minister deserves credit for an honourable resignation speech and, although his legacy will always be our departure from the EU, he should also be remembered for returning the country to economic growth and changing the focus of London Government towards our ‘Northern Powerhouse’, something I hope will continue under his successor.”

Robyn Peat, George F. White

“I am genuinely shocked that the majority of UK citizens have voted to leave the European Union (EU). In my opinion, our nation’s future, both short and long term is now unknown and uncertain. We don’t know anything about the political, financial, economic and social environment that we now reside in because we now, following this result, have to negotiate it.

“No matter how much those celebrating the result are saying that today marks the day where the UK has achieved greater independence, I firmly believe that, as we are now no longer a part of the EU, we are not sovereign.

“Now the hard work starts and everyone has a role to negotiate and lobby for the best opportunities nationally and across the world for individuals and corporations alike. Let’s make our voice heard. It’s a sad day for UK politics and, indeed, the nation.”

Cllr Grant Davey, leader of Northumberland County Council

“An estimated £108m of European investment came into Northumberland over the last nine years, helping to regenerate our towns, invest in our businesses and providing support for tourism and farmers.

“Annually £28million of funding comes in directly and indirectly which supports jobs in the county council. Services will be damaged and jobs will be lost if this Government doesn’t immediately deliver a plan to replace this now lost funding.

“There is no doubt that European funding has benefited the county significantly and we now need to take stock and, along with the Government and the rest of the country, and to mitigate against adverse implications for Northumberland.”

Ian Richards, Northstar Ventures

“We are obviously disappointed that the outcome of the Referendum was a vote to leave the EU, as we’ve seen first-hand the positive impact that European funding has had on the North East. While the future is uncertain at present we’re confident that, in or out of the EU, investment into the North East business community will continue.

“Throughout 2016 our Investment Team will be concentrating on investing the £6m extension to the Finance for Business North East Proof of Concept and Accelerator Funds. We are also committed to working with the UK Government, Local Authorities and LEPs, to continue to develop the ecosystem of support available to North East businesses.

“We believe that the UK Government will see the value in continued regional investment: since 2010 Northstar’s investments alone have created 794 jobs in the North East and leveraged £3.40 of additional investment for every £1 of public money invested.

“Regardless of any changes following the vote to leave, we look forward to the continued success of the North East business community.”

Wayne Baxter, Haden Freeman

“There is a lot of uncertainty around what today’s result will mean for our sector, specifically within the North East. With a large amount of funding coming directly from the EU membership, we’d hope to see this investment be maintained or even increased, by our own central government to continue the research and innovation taking place within the industry.

“Leaving the EU may impact on the flow of skills from outside the UK, but we will continue to focus on nurturing and retaining home-grown talent in the region, working with Teesside University and the Middlesbrough College STEM centre.”

Want to get your views across on this historic day? Drop us a line at editor@bdaily.co.uk or tweet us at @BdailyNorthEast and let us know your thoughts.