These negotiations are likely to be more complex than the others recently undertaken by the UK Government. But they also have the potential for a greater uplift for exporters across the UK, particularly in services and emerging technology.
Our research and analysis distils and assesses what the developments in the transition period mean in real terms for businesses.
The British Chambers of Commerce today publishes an evaluation of official UK Government guidance to businesses on critical operational issues in the event of an unwanted ‘no deal’ exit on 31st October.
The leading business group has found that, at the time of publication, 31 of 36 business-critical areas are still marked amber or red, indicating that firms have incomplete or insufficient information available to plan thoroughly for a ‘no deal’ outcome.
The British Chambers of Commerce publishes new research demonstrating some of the potential real-world consequences of the UK leaving the EU without a deal on the 31st of October.
A survey of over 1,500 companies by the leading business group - covering of all sizes and sectors of business, across the UK - found that in the event of a ‘no deal’ exit on 31st October, nearly a quarter of firms surveyed (24%) say they would revise investment plans down, while just 4% would revise up.71% of respondents did not state that they would revise investment plans.
New research from the British Chambers of Commerce shows a concerningly high number of UK firms aren’t ready for a no deal Brexit. Business has consistently called on government to avoid a messy and disorderly exit but in light of the political turmoil and relentless uncertainty, clearer and more consistent information is needed to help them prepare.
The survey of over 1,500 firms from across the country, found that in the midst of conflicting political messages over the likelihood of no deal and remaining gaps in government guidance, two-fifths (41%) of UK businesses have not done a Brexit risk assessment.
The British Chambers of Commerce has created a Business Brexit checklist to help businesses consider the changes that leaving the EU may bring to their firm.
The UK's impending departure from the European Union will bring change for businesses of every size and sector. Chambers of Commerce believe that all firms - not just those directly and immediately affected - should be undertaking a Brexit 'health check', and a broader test of existing business plans.
The British Chambers of Commerce (BCC), in partnership with independent business funder, Bibby Financial Services (BFS), has conducted one of the biggest surveys of business opinion since the referendum, amassing the views of over 2,500 firms from across the UK.
We found that nearly two-thirds of firms still aren’t preparing for Brexit – and in the event of a ‘no deal’ outcome many would cut investment and recruitment plans.
These negotiations are likely to be more complex than the others recently undertaken by the UK Government. But they also have the potential for a greater uplift for exporters across the UK, particularly in services and emerging technology.
Inflation is set to continue upwards, with a further rise in the energy price cap yet to come, leaving businesses with mounting economic uncertainty, alongside labour shortages.
There is some way to go before businesses will have complete assurance about the operation of the new markings systems.
June is a month when we see businesses across the UK painting their usually untouchable brand livery all shades of rainbow in support of LGBTQ+ employees, customers and stakeholders.
