Very few English companies expect Brexit | Free Press

Many British companies are currently grappling with the fallout from the Crown crisis, and now the EU is due out at the end of the year. Only three percent of the 400 companies surveyed expect Brexit to have positive effects on their own business.

London (dpa) – According to a recent survey, only a small minority of small and medium-sized businesses in England expect Brexit to have positive effects on their own business.

Only three percent of representatives from 400 manufacturing companies surveyed said in the South West Manufacturing Advisory Service survey that leaving the EU would likely help their company.

According to the study, half of those surveyed still do not know how the end of the transition phase of Brexit will affect their business. Britain had already left the EU at the end of January. However, there is still a transition phase until the end of December, during which largely the same rules as before apply. Without a trade pact with the EU, which is currently still being contested, there will be tariffs, border jams and other trade obstacles.

“Businesses have been hit hard by Covid-19 and now face the additional challenge of Brexit, which is looming on the horizon,” said the consultancy’s managing director, Nick Golding. “It is an extremely critical situation for company managers who are trying to plan but have no idea what they are really planning, while many of them have fewer resources as a result of the pandemic.”