How much will the business be affected by a New Prime Minister?
We don’t think anyone can say that UK and EU politics have been boring over the past couple of years, regardless of your opinion of Brexit. During this moment of unprecedented uncertainty and disturbance, as a UK-based business, it forces us to take a step back and take a tough look at what we do when the sands under our feet are changing day by day.
Datum has manufacturing sites in the United Kingdom and the United States, a new location in Poland and an office in Singapore. Our exports to the EU are a large part of our operations within our UK-based business. Naturally, like any successful business, with our facility in Poland, we have contingency plans to mitigate the complications of any border disruption caused by Brexit. But the bigger question is the future lifetime of the UK’s ongoing business and manufacturing.
There are many different viewpoints embraced by the new prime minister candidates that will have varying long-term effects on the UK’s position and ongoing trade relations around the world. Looking at the actions taken by the large manufacturers, we see firms such as Ford warning that a no-deal Brexit would be’ catastrophic’ and Honda announcing plans to close its manufacturing plant in Swindon, UK. Many of these press releases, along with others, have been flagged as propaganda, but the signals have not been positive for the UK manufacturing outlook. You can stifle the conversation, but the effects are not going to go away.
From this political situation, there are so many possible outcomes, and our point of view has always been to influence and control what we can, instead of wasting time and money on things we can’t influence. Rather than complaining about what might happen, we’re setting ourselves up in a position that we can thrive in any situation.
At Datum, we are continually focusing on creating things people need and doing better than anyone else. Our primary market, surface mount technology (SMT), is continuously driven by miniaturization and design of printed circuit boards (PCB) that give developers the freedom to create the new fancy phone or smartwatch and the technology of the future.
With this in mind, we have developed processes that open the possibilities from a design perspective by increasing the accuracy of the products we offer.
By doing this, we have reduced the risk of political uncertainty to future business by taking charge of our success and doing things that no one else can do. This will mean that the value we provide will be something that the market can’t get from anyone else in the future.
We can never control politics or politicians, even with the best talent and technology; they will always be unpredictable. But we can control our capabilities and influence them. You need customers to succeed in a business, and you will only have customers if you provide something they need — investing in our products, processes, and innovations that help our customers where we choose to invest.
And it will pay off many times over.