Brexit: Half of UK Businesses Report Disruptions Post-Withdrawal
Three months into the Brexit withdrawal, just over half of UK businesses say they’ve been dealing with disruptions ranging from small to large due to the new UK/EU trade agreement.
According to a YouGov survey of 2,046 business decision makers, 52% say their company has faced disruption since the Brexit Withdrawal Agreement came into effect on Jan. 1, 2021. 13% described large disruptions, 17% said it was moderate, and 22% reported a small amount.
Small and medium enterprises (SMEs) had the highest number reporting no disruptions at all (54%), while businesses that do a large amount of trade with the EU reported the most issues since the new agreement went into effect.
Interestingly, the 74% of businesses dealing with negative fallout from Brexit believe it will last for a long time, while the small minority that expect positive outcomes also only expect them to be short-term gains.
But unsurprisingly, the coronavirus pandemic has had a greater impact on businesses than Brexit. 71% said the pandemic will affect them negatively, while only 14% believe it will not have any consequences for their company.