Over 20% of employees, questioned as part of research by finance company Premium Credit, claim that their firms are stockpiling for Brexit. Anna Tobin reports
The Premium Credit study claims that 22% of employees say that their employers have been stockpiling goods in preparation for a hard Brexit. Of those working for stockpiling employers, 16% reported that it has had a very negative impact on their organisation’s cashflow and 58% said it has had a slightly negative impact on cash flow. Two thirds, (66%), said that stockpiling has adversely affected their employer’s expansion plans; 60% say it has adversely affected recruitment; and 64% claim to have lost out on pay rises because of it.
“The implications are much wider than many may suspect,” said Adam Morghem, strategy and marketing director at Premium Credit. “From creating cashflow problems, to under insurance of stockpiled goods to curbing a business’ plans for expansion. Our findings also suggest that many people may also be missing out on promotions and pay rises as a result of Brexit related stockpiling.”