Facebook - Birmingham Business Twitter - Birmingham Business Instagram - Birmingham Business
https://www.charles-stanley.co.uk/birmingham-office?utm_source=birmighambusinessmagazine&utm_medium=banner&utm_campaign=branch&utm_term=birmingham_securefinancial_halfpage https://www.gbslepgrowthhub.co.uk

Companies bullish about Brexit impact

New research from business and financial adviser Grant Thornton UK LLP has shown that 22% of the West Midlands’ mid-market business leaders polled (over the first two weeks of December) expect Brexit to positively impact their business in the next six months.

With the rapidly approaching transition deadline and the continuing threat of no deal scenario, 59% of West Midlands mid-market business leaders feel either very or fairly confident in their preparations for the upcoming changes in 2021.

For the next six months, mid-market business leaders are slightly more concerned about the negative impact of ongoing COVID-19 related restrictions on their companies, with 34% saying further lockdown restrictions would be bad for their business, versus 32% for Brexit. 

The biggest Brexit-related worry for mid-market business leaders in the region was legal and regulatory changes (18%), followed by people-related concerns such as recruitment and mobility (16%).

David Hillan, West Midlands managing partner at Grant Thornton UK LLP, said: “There is a clear consensus in our region that a deal is preferable to a disorderly exit.

“West Midlands businesses, particularly those in our world class automotive sector and supply chain, are globally-facing and are craving forward visibility so they can plan and invest. What’s really important now is for the Government to speedily share detailed information about the new arrangements – whatever they are.

“The Government’s Time is Running Out publicity campaign, asking businesses to prepare, is fine as far as it goes, but not all the detailed information is available. The impacts will be felt in a wide range of ways, hitting different sectors, in different ways over the coming months.

“All business leaders have spent 2020 fighting the more pressing and urgent threats presented by the global pandemic. We see from the data that the big definable problems, such as further restrictions in terms of workplace safety, travel restrictions, people productivity, and looming regulatory changes, are higher up the mid-market leader’s list of potential threats than Brexit.”

Pictured: David Hillan

https://www.shropshirebiz.com

Freight forwarder ready for no-deal Brexit

Specialists prepare for smooth transition

11th September 2019

Data shows reliance on Covid support

One in ten Midlands workers were furloughed

8th December 2020

Back to the future

How asset finance can give fresh impetus to your business

25th June 2020

Comms experts send out rallying call

Business leaders urged to take part in new survey

27th October 2020

Business leaders call for economy rebalance

Chamber says rise in employment positive progress but only the first step

22nd January 2020

New immigration team is appointed

Law firm launches new department

22nd May 2019

Accura under new ownership

Willenhall engineering firm acquired by Wright Industries

9th October 2018

Birmingham businesses highlight 'glaring omission' from budget

The city delivers its response to the Chancellor's speech

30th October 2018

Grant scheme will help firms adapt

Companies receive support to ease economic impact

30th October 2020

Comms tech firm offers team solution

Telephone technology allows users to make and receive calls from anywhere

1st September 2020

Deal secured on city centre site

Real estate specialists complete acquisition

19th September 2019

Survey searches for answers

Businesses asked about long-term effects of Brexit and Covid

28th October 2020

Budget 2020 - warm response from city businesses

Upbeat reaction to Chancellor's plans

11th March 2020

Action required as unemployment rises again

'Disappointing' figures show troubling signs

11th December 2018

Quarterly fall in corporate insolvencies

But experts say figures are disguising true picture

9th November 2020