Facebook - Birmingham Business Twitter - Birmingham Business Instagram - Birmingham Business
https://www.kangandco.co.uk https://www.senatehome.co.uk

Brexit knowledge weak among SMEs and manufacturers

SMEs and manufacturers feel less informed about Brexit than the rest of the business community, according to new research from Greater Birmingham Chambers of Commerce.

Results from the GBCC’s Business Brexit Health Check indicated that SMEs and manufacturers rated themselves weaker than other firms across all key areas when it comes to the potential impact of Brexit on their business and the extent to which they have prepared for it.

The Business Brexit Health Check is a free online tool that that supports firms in their Brexit planning.

More than half (54 per cent) of manufacturers and 42 per cent of SMEs rated their preparations for the regulatory and legal aspects of Brexit as “weak” (1 or 2 out of 5), compared to 38 per cent across all businesses.

Only 19 per cent of SMEs and 23 per cent of manufacturers felt their preparations for the trade aspects of Brexit are “strong” (4 or 5 out of 5) compared to 27 per cent of all businesses.

On average, businesses highlighted 12 areas where their operations could potentially be exposed to Brexit related change.

These included areas such as processing EU citizens’ data, employing EU citizens, buying goods and services from the EU and selling goods regulated by an EU agency.

Just under half (46 per cent) of respondents reported that they sell goods to the EU, while 37 per cent sell services to the EU and 46 per cent highlighted selling goods or services to nations covered by EU trade deals.

In response to these results, the Greater Birmingham Chambers of Commerce are enhancing their support for businesses. 

The new materials launched today include a ‘What do we know about Brexit?’ guide to counter Brexit uncertainty. They can be found here.

Henrietta Brealey, director of policy and strategic relationships at the GBCC, said: “These results indicate that businesses in the Greater Birmingham have a way to go before they are Brexit ready. They also highlight the scale of the challenge facing businesses with the number of areas in which businesses could be impacted by Brexit.

“Generally speaking, manufacturers are more exposed to the trade related aspects of Brexit than the rest of the business community and SMEs have fewer people and resources to invest in preparing.

“Taken as a whole, these results make clear that businesses need more support and guidance to help them prepare for Brexit. The Chamber is ready and able to help through our enhanced materials, events and training programme unveiled today.

“Businesses also need real decisions from Government to finally provide clarity on what next. We can’t provide that unfortunately but we will be on hand to get businesses the latest insight and intelligence on what the outcome of the forthcoming Brexit vote means for them and plug them into the support available.”

The Chamber has launched:

Find out more here.

Pictured: Henrietta Brealey

https://www.artbusinessloans.co.uk

Employers urged to Raise the BAR

Chamber campaign launched to help businesses respond to change

12th September 2019

Chamber says HS2 already benefiting region

Business leaders confident Government-backed review will show project's positive impact

21st August 2019

More job opportunities required

Business leaders say figures show action must be taken

26th July 2019

Chamber warns skills gap lingers

Jobs boost welcomed but more needs to be done

16th October 2019

Chamber reveals awards shortlist

Tough choices for judges but decisions are made

7th October 2019

Business leaders will continue HS2 campaign

Chambers say news of opening delay is disappointing

3rd September 2019

Future Faces shortlist unveiled

Young professionals find out who is in the running for awards

15th July 2019

Businesses will benefit from lending fund

HSBC UK will support SMEs with growth plans

14th October 2019

Recruitment firms puts health and fitness first

Wellbeing week offers advice and support

18th October 2019

Expert-led advice seminar on offer

Business owners will hear range of exit options

19th February 2019

Digital tech SMEs receive support

Campaign will lift region's small businesses once again

15th March 2019

Are business space rents out of reach?

Property consultant calls for recalibration of space in Jewellery Quarter

10th April 2019

Why millennials are struggling to find workplace happiness

Career stress takes its toll on city's ambitious young generation

10th January 2019

Freight forwarder ready for no-deal Brexit

Specialists prepare for smooth transition

11th September 2019

New immigration team is appointed

Law firm launches new department

22nd May 2019