Retail has faced some daunting challenges over the years, but new prime minister Boris Johnson can place the UK in the top three economies in the world, providing the sector with major opportunities, says Ideal Shopping boss Jamie Martin

Boris Johnson isn’t your standard politician. However, he is a decision-maker, he’s determined, and I firmly believe he will secure Brexit as promised while supporting the nation’s businesses. 

Boris Johnson UK prime minister

Boris Johnson is adamant Brexit will lead to a ‘brighter future’ for the UK

There is always a sense of nervousness and excitement associated with change and leading the UK at such a pivotal time is not going to come without its difficulties. There’s certainly a lot on his plate in terms of reviewing projected North-South transport links, making key decisions to protect a split nation from threats such as conflict with Iran, and uniting the divisions in his own party.

But unlike his predecessors, he brings a lot more positivity to Westminster and so my prediction is any negatives surrounding Johnson becoming prime minister will be short-lived.

My experience in retail has shown that being able to take risks and innovate is the only way the sector is going to thrive. It’s the same in Parliament. Those that play it safe and have no commercial backbone don’t actually achieve a great deal.

Some people are unable to see 15 chess moves ahead but Johnson, similarly to many entrepreneurial business leaders in this country, can certainly see a brighter future.

See the positives

For the next few months, our thoughts will all turn towards Brexit and how Johnson will approach the negotiating table. The prospect of ‘no deal’ is viewed by some as detrimental for business and our sector. But what people aren’t acknowledging is that the UK has the fifth-highest performing economy in the world and the captains of industry will put immense pressure on the likes of France and Germany to ensure Britain is kept open for business.

In fact, leaving the EU could signal immense change and rank us higher, becoming the third-largest economy in the world and an absolute powerhouse. I’ll explain why.

Brexit doesn’t prevent growth. In terms of Ideal Shopping Direct, we are already projecting a 6.5% rise in turnover this year, despite the damage done by the uncertainty and chaos surrounding Brexit. I think we are likely to see a feelgood factor surrounding a decision regarding Brexit. The clever people will start moving and spending their money in order to take control of new opportunities. This will stimulate the economy.

“Businesses need to understand it could be a case of short-term pain for long-term gain”

Back in 1972, it was a good idea to have trade agreements, yet over the last 45 years, we’ve reached a point where one glove doesn’t fit across 28 different countries with differing infrastructure. The EU is like a twisted set of deep-rooted vines with ideology formed from older generations. Britain could walk away, make sufficient changes and inward investments to drive the economy. It would take the EU around 20 years to untangle itself. The EU needs us more than we need them.

I would urge all retail businesses to see the positives and prepare wisely. At Ideal Shopping Direct, we have ensured we have sufficient stock to withstand any partial disruption but we are also buying product outside of Europe so it can be business as usual for our customers. Businesses need to understand it could be a case of short-term pain for long-term gain, see the positives and act on them. Our shopping channel, Ideal World, is already planning a huge price reduction for a Brexit event across its broadcast and online channels to celebrate the savings we’ll make by being out of the EU. We are confident sales will boom as a result.

This new era with Johnson as prime minister is about nerve and conviction. It’s not about making a saving of 2p for every loaf of bread – the stakes are much, much higher. The UK under Johnson needs to put task forces in place to support failing businesses, lift the burden of taxes and power through with innovation.