UNCERTAINTY AND OPPORTUNITY: THE BREXIT CHALLENGE.
MAXIMeyes made its break into the highly competitive energy procurement industry using a revolutionary approach, but now like many businesses, it is facing up to a new challenge, a new revolution, caused by the prospect of Brexit. Shamir Jiwa, the entrepreneur who founded and still runs MAXIMeyes, has been working with his team to look at what Brexit means for the company and the energy procurement industry.
It is clear that Brexit is destabilising. “Political uncertainty” says Shamir, “creates instability in the market and typically causes prices to become extremely volatile and we have seen that since the referendum”. At MAXIMeyes they are preparing for a long period of volatility in the market; a difficult aspect of this is the decline in the strength of the Pound Sterling. The weakness of the pound means higher energy prices due to energy imported from Europe. “Whilst is is clear that nobody really knows what is going to happen to energy prices”, continues Shamir. “We suspect they could be volatile for a long time”.
Fluctuating energy prices can make life difficult for businesses, particularly those with high levels of energy use. Shamir has a solution to this problem. MAXIMeyes is encouraging businesses to take control of their energy by looking at generating their own energy and reducing reliance on the grid. He says: “The utopia is to be energy self-sufficient, then you are not affected by market volatility”. So MAXIMeyes is showing businesses that moving in this direction doesn’t need capital expenditure. There are well-established, fully-funded models for these types of solutions, allowing savings to be shared with investors. Many businesses in the United States have been capitalising on this model at least for the last decade. It is something new in the UK, but many businesses are already seeing the benefits.
The road ahead.
How does Brexit affect MAXIMeyes? Shamir knows there are uncertainties that make it harder to predict where future challenges will lie. An example of this is the ability of MAXIMeyes to do business in the EU, which it has done in the past. Also, there are questions about the impact on recruiting people from EU countries, which has been critical to the business growth in the past. At present these are questions with no clear answers. However, Shamir relishes the challenge: “The volatility of energy prices means opportunities for energy consultants like us”. Where there is uncertainty, where there is difficulty, where businesses are challenged, that is where the strong and innovative business players will find opportunity and that’s what being an entrepreneur is about”.
MAXIMeyes is an award-winning energy and telecommunication consultancy that provides tailor-made utility solutions. For more information please visit our website or contact our team on 020 8652 7525 or by email.