Business owners optimistic about Brexit deal but fear border chaos
Business owners are confident about a Brexit deal emerging in the next few days but are still anticipating border chaos.
It comes as negotiations for a free trade agreement between the UK and the European Union continue.
A poll of 5,000 UK business owners by MarketFinance found 61 per cent are optimistic that a no deal Brexit will be averted.
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However, 46 per cent anticipate delays of between one and two weeks in processing goods at borders because of changes to processes.
The majority of respondents, 85 per cent, said the Christmas trading period is pivotal in terms of revenue but half are anticipating a difficult time ahead due to border uncertainties.
Revenues are expected to be hit by £53,095 on average, a collective loss to the UK economy of £38.4bn, MarketFinance said.
Two-thirds of businesses have tried to put some financial measures in place to survive the difficult trading period such as a revolving credit facility or invoice finance.
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“UK business owners have expressed their confidence that a deal will be done this month and that they will want to get on with business as usual quickly,” Anil Stocker, chief executive of MarketFinance, said.
“However, it will be important to get information out to the business community as quickly as possible.
“Given the difficulties businesses already anticipate during the winter trading period, we need to ensure they have all the means necessary to prepare for a bumpy start to the new year. No-one wants to see these businesses derailed from kicking off in 2021.”
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