Over a third of boardroom and c-level individuals fear a No Deal Brexit, but 15% believe it will have a positive impact. Anna Tobin reports
Premium finance company Premium Credit canvassed 183 boardroom and c-level senior management and found that 35% expect a no deal Brexit to have a negative impact on their businesses; 15% believe a no deal Brexit will have a positive impact on their businesses; and 36% expect it to have no impact. Of those surveyed, 23% said they are ‘very prepared’ for Brexit; 37% ‘quite prepared’; and 21% don’t think they are ready.
Stockpiling has formed part of many organisations preparations for Brexit and cash flow has taken a hit as a result; 48% of board directors and senior managers who work for companies that have stockpiled goods say this has also meant their employers have put expansion plans on hold. “The effects of Brexit stockpiling are far and wide. One of the biggest implications has been the negative impact on cash flows, and what this means for the day-to-day running of companies,” said Adam Morghem, strategy and marketing director at Premium Credit. “In many cases they turn to credit more to help pay for vital services, including insurance cover.”