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Steps To Mitigate Risk Of Independence Uncertainty?

Have you taken steps to mitigate potential risks of the indyeref?

  • yes

    Votes: 0 0.0%
  • no

    Votes: 3 100.0%

  • Total voters
    3
Tim Barlow

Tim Barlow

New Member
I hope it may be possible to have a non-political discussion!

With the polls now making a yes vote a distinct possibility/maybe even a probability, it is fair to say that the level of uncertainty for the short to mid-term is now very high. I have to admit to having done nothing yet as a business director to mitigate the risks that such uncertainty presents.

I'd be interested in suggestions for putting the shareholders and employees of the business before personal politics. What steps should I take to mitigate the risks?

e.g. should I move money out of RBS? Should I move it out of Stirling? Would there be any benefit in establishing a nominal presence south of the border before the vote? What sort of things are in the contingency plans of larger businesses who are saying they've made contingency plans?
 
Y

YrHenOgledd

New Member
Should I move money out of RBS? Should I move it out of Stirling?
By moving it to Falkirk? ;-)

Seriously, though, if all companies start doing this then it will become a self-fulfilling prophecy, i.e. a run on RBS and other Scottish banks. I think this is one of the many reasons which make a currency union after the referendum (if it is indeed a yes vote) a certainty, whatever the politicians say. Expect to see Salmond and Cameron make a joint statement on this before the end of September ...

So I would say: no, stay put. There is no way a crisis of confidence in the banks will be allowed to happen.
 
Tim Barlow

Tim Barlow

New Member
By moving it to Falkirk? ;-)

Seriously, though, if all companies start doing this then it will become a self-fulfilling prophecy.
But the work in doing so is minimal so therefore seems like a sensible precaution even if it does go against a perceived duty to do your bit for the country. I also agree the chances are low but I have heard second hand (but from a reliable source) about a director of one of our bigger financial services companies who has moved all their personal cash out of Scotland.
 
Y

YrHenOgledd

New Member
I have heard second hand (but from a reliable source) about a director of one of our bigger financial services companies who has moved all their personal cash out of Scotland.
Wouldn't surprise me at all. The finance sector has always had our best interests at heart (</sarcasm>)
 
Gemma Rowlands

Gemma Rowlands

New Member
I will admit here and now, I understand very little about how the vote is going to affect me either way, and that's not something that I am particularly proud of, but it's the truth all the same. I do not have a physical presence in Scotland particularly, in that most clients come from further afield (America, a lot of them, actually) but there may be new business rules that affects our physical office. Which I'm considering getting rid of anyway. But more on that another time!

I did have a moment of panic where I made a plan to move back to England, but I am hoping that there is no need for such a plan. Hopefully things will quieten down and level out, no matter what the result of the vote.
 

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