All sectors dependent on cheap labour and imported raw materials will face a difficult time after the Brits leave the EU. "And yes, some will go bankrupt. But the main thing is: it's not necessarily a bad development," writes Matthew. "It's part of a process of creative destruction, which makes countries richer," he continues.
Because companies are going bankrupt, Matthew believes there will be space for new companies. This process is called 'creative destruction' in economics. Old industries disappear, new ones rise. In the end this is supposed to lead to a wealthier country.
Source: Money Week