Only the ‘fleet of foot’ will survive Brexit according to Barclays director

22-Mar-2017 - Last updated on 22-Mar-2017 at 10:39 GMT

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Operators need to be flexible in order to survive Brexit, Barclays hospitality and leisure team relationship director Bob Silk told delegates at a panel discussion earlier this week (Monday 20 March).

The panel discussion, Brexit – the challenges and opportunities for the foodservice and hospitality industry – took place at the Arena Savoy Lecture 2017 at the Savoy Hotel, central London.

British Hospitality Association government affairs director Vernon Hunte chaired the panel and was joined by restaurant chain Busaba Eathai chief executive Jason Myers, legal firm EMW Law consultant Sebastian Calnan and Silk.

Not a good time to be speculative

Silk outlined his predictions for what will happen once Article 50 is triggered next week (Wednesday 29 March).

He said: “I can see a time when, more than ever before, it is the nimble and fleet of foot that will survive.

“Those who are not fleet of foot will struggle and not survive.

“However, this is not a good time to be speculative.”

Braving the storm

Busaba’s Myers agreed with Silk and urged the industry to join forces in a bid to weather the Brexit storm.

He said: “You have got to embrace your suppliers as partners. You have got to work together because they are getting the same cost pressures as you but the customer doesn’t want to take it so you have to work together to work it out.

“It’s not a time to be speculative, it’s a time to be sensible. To understand your own business and market and take the time to work out what this means to you.”