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Under a third of UK businesses prepping for Brexit - Reuters

2018/8/3 1:10:32 EMR FX Edit
Under a third of UK businesses prepping for Brexit - Reuters

According to reporting by Reuters, less than a third of business leaders in the UK are planning for Brexit or developing an exit strategy according to results from a survey by the Institute of Directors.

Key quotes

"Forty-nine percent did not expect Brexit to affect them, while 42 percent will only make changes once the relationship between Britain and the EU becomes clearer. Internationally-minded firms that trade with both EU and non-EU countries were more active in contingency planning, the survey showed.

“Many companies are still unprepared for Brexit, and it’s hard to blame them,” said Stephen Martin, IoD director general. “When it comes to knowing what to plan for and when, firms have been left in the dark,” he added in a statement.

“As long as no-deal remains a possibility, it is essential that the government steps up to the plate and provides advice on preparing for such an outcome. We therefore urge them to speed up publication of the technical notices.” "

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