'Only minority of firms now say Brexit having negative impact'
14 Jan 2020
A new report on engineering industry preparations for the UK’s withdrawal from the Europen Union suggest a majority now feel it has had a positive or neutral impact on their businesses.
Global sales, negotiation and communication experts Huthwaite International commissioned the report on the current feelings within the sector.
It says its research reveals 34% of businesses believe the process is having a positive impact on their business, with 21% it has not had any impact at all.
Additionally, 27% of respondents say they think their growth potential will prosper post-Brexit, regardless of the outcome, although 43% worried about the initial impact.
Factors for concern remain economic stability, rise in prices and a no deal Brexit ranked as the highest concerns. Improving negotiation skills also ranked as a priority.
Huthwaite International CEO Tony Hughes said:
“Gaining the skillset and knowledge to survive this economic uncertainty is vital for business success. The UK is packed with ambitious and prosperous companies that in theory should flourish regardless of economic uncertainty, however the importance of obtaining the core skillsets to flourish shouldn’t be underestimated.”
Stop press: Chief economist at manufacturers’ organisation Make UK Seamus Nevin, said the latest GDP would add to business calls to cut borrowing costs and for some fiscal stimulus
He said the general election has provided some clarity for business and customers on what to expect over the next few months, which would help some firms to start investing again he stated.