Brexit pushes UK businesses to focus on looking for UK suppliers

MarketDojo
(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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