(Shutterstock)Research by Marketdojo shows that Brexit is pushing UK businesses to focus on looking for UK suppliers. Anna Tobin reports
A study conducted by negotiation software suppliers Marketdojo, surveyed over 500 UK-based business owners working across 15 key sectors to assess how Brexit is likely to impact their businesses. Over half (51%) of respondents said that they were currently looking, or had already looked, for more UK-suppliers as a direct result of Brexit.
A large majority of those surveyed, 82%, said that they were concerned about how Brexit will affect their businesses. Brexit-related supply issues was a worry for 92% of the participants, 88% were concerned about cash-flow problems and 86% about rising business costs as a result of Brexit.
“We are no closer to really knowing what we are going to get from Brexit, which has meant many business owners are in a perilous situation. Many are postponing investment decisions, trying to cut costs and are looking for UK-based businesses to work with instead of those overseas due to fears,” said Alun Rafique, co-founder, and CEO of Marketdojo.
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NO DEAL BREXIT
ACTION PLAN
The No Deal Brexit Action Plan maps out the time available and the time required to undertake the processes to prepare your business for a No Deal Brexit.
Your business will need to modify or completely change procedures to prepare for Brexit. Brexlists help you take a rigorous and structured approach to your preparations:
- The Executive Summary Brexlist Brexit checklist, as its name implies, highlights the key issues
- The Business Functions Brexlist Brexit checklist maps onto the key business functions in a company
- The Directory Brexlist Brexit checklist maps onto the topic headings in our Brexit Directory
highlight what needs to be done, and by when, to ensure that all parts of your supply chain are prepared for Brexit:
- Identify the key questions for your business
- Share key learnings with your business partners
- Identify the key challenges and opportunities
- Highlight key internal and external priorities
BREXIT
DIRECTORY
The Brexit Directory is an extensive database of information and links organised by business function to help you find the information your business needs to know.