Close Brothers

47% of UK SMEs planning for Brexit outcomes

Some 47% of UK SMEs have started planning for the various possible outcomes Brexit could have on the supply chain, according to research by Close Brothers Asset Finance.

The survey of 900 businesses showed that 29% of SMEs thought their business would suffer from a reorganising of the supply chain due to Brexit.

Some 51% of SMEs believed their business would neither suffer or benefit, and 20% felt their business would benefit from a reorganisation.

40% of the business owners surveyed export goods to the EU.

Close Brothers Asset Finance

Neil Davies, CEO at Close Brothers Asset Finance, said that this forward thinking was typical of the enterprise shown by the UK’s SMEs.

“It clearly demonstrates that in the absence of certainty, businesses have taken it upon themselves to assess the impact leaving the EU will have on the supply chain which, for many businesses exposed to Europe, is critical.

“In the key sectors that have strong relationships in and with Europe, including engineering, manufacturing and transport, planning is advanced and above the national average of 47% who admitted they’d started their planning.

“Looking at the figures, with 51% selecting the ‘neither’ option, it’s clear that the continued uncertainty means businesses have little idea of the impact a reorganisation will have.

“It’s not something they have ever had to deal with on this scale.”

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