64% of businesses negatively impacted from Brexit vote

64% of businesses negatively impacted from Brexit vote




Some 64% of businesses have claimed that Brexit has negatively impacted their growth potential, while almost half admit they are likely to leave the UK or reduce investment.

In a study commissioned by business data specialists Dun & Bradstreet and carried out by Censuswide, it has been revealed that there is significant concern among the UK business community regarding the EU referendum result.

A number of businesses have already reduced activity in the UK with 19% reporting they have either slowed or paused growth plans.

A further 49% of senior financial decision makers admitted they intend to leave the UK or reduce investment due to Brexit, while 12% said that choosing one of these options was “highly likely”.

With regards to business conditions, 41% were concerned that information available about European partners and customers will now be limited, while 27% were worried they will miss out on business growth opportunities as a result of the EU exit.

Almost three-quarters (72%) were already making plans to address changes brought about by post-Brexit market fluctuations.

Markus Kuger, senior economist at Dun & Bradstreet, said: "It is clear that businesses are analysing and in some cases reconsidering their position in the UK.

"Until we know exactly how Brexit will happen – for example, whether the UK will maintain access to the EU's common market once it leaves the EU – businesses are going to be cautious.

“No one knows what the business world, and the economy it drives, will look like post-Brexit.

“We recommend that businesses make contingency plans and remain vigilant of market activity, but also remain calm."

The research was sourced from 200 chief financial officers or financial directors in media and large enterprises in the UK and was conducted during October 2016.

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