Five years ago, Britain saw a divide as citizens gathered to witness the momentous occasion of Brexit on January 31, 2020. This marked the UK’s departure from the EU after nearly fifty years of membership, which allowed for free movement and trade across Europe. While supporters celebrated newfound sovereignty, opponents lamented a loss of influence and economic stability.
The consequences of this split have been significant, with political analysts indicating a profound shift in both the economy and domestic politics. Brexit’s initial referendum results, which narrowly favoured leaving by a margin of 52% to 48%, shocked many and led to years of contentious negotiations. The UK ultimately exited the EU’s single market and customs union, resulting in increased trade complications that have cost businesses time and money.
Take the case of Julianne Ponan, a CEO affected by Brexit, whose export business suffered initially yet later pivoted to new markets, showcasing resilience. Nonetheless, some companies have ceased trading with the EU entirely due to the challenges imposed by new regulations.
Today, public sentiment towards Brexit appears to be increasingly negative, with many believing it was a mistake. Despite this, the prospect of rejoining the EU remains remote, indicating a complex path ahead for UK-EU relations amidst shifting political landscapes.