• Privacy policy
  • T&C’s
  • About Us
    • FAQ
  • Contact us
  • Guest Content
  • TLE
  • News
  • Politics
  • Opinion
    • Elevenses
  • Business
  • Food
  • Travel
  • Property
  • JOBS
  • All
    • All Entertainment
    • Film
    • Sport
    • Tech/Auto
    • Lifestyle
    • Lottery Results
      • Lotto
      • Set For Life
      • Thunderball
      • EuroMillions
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
The London Economic
No Result
View All Result
Home Business and Economics

Brexit a bigger challenge than Covid-19 pandemic, business leaders say

"The deal has indeed been done, but we are only now finding out what the fine print was and what this might mean for business."

Jack Peat by Jack Peat
2021-02-08 13:36
in Business and Economics
FacebookTwitterLinkedinEmailWhatsapp

Brexit has been revealed as the number one headache among business leaders, despite pledges from the government than an EU-UK trade deal would mean seamless trading conditions.

According to new research from London-based marketing firm Impression some 67 per cent of UK businesses are still uncertain of what’s to come from Brexit, with 20 per cent expecting a negative impact from Britain’s departure from the EU in the long-term.

In contrast, more than 66 per cent of the firms that were surveyed by Impression anticipate the pandemic to have less of an impact in 2021 than it had last year, with less than 40 per cent per cent saying they are confused about the impact of the pandemic.

Business groups

It comes as the UK’s five biggest business groups recently warned the government that companies face “significant disruption” if post-Brexit conditions are not eased.

The CBI, the Institute of Directors, Make UK, the Federation of Small Businesses and the British Chambers of Commerce sent a letter to Michael Gove and Kwasi Kwarteng last week, urging the government to remove obstacles or a “significant loss of business” would inevitable.

The Federation of Small Businesses has also warned that the profits of many small firms are being wiped out by the new, additional post-Brexit costs. In fact, some have no choice but to move their operations to an EU member state in order to be able to continue trading.

Speaking to City A.M, Rick Smith, managing director of financial advisory Forbes Burton, said: “Brexit is a real concern for many companies. The deal has indeed been done, but we are only now finding out what the fine print was and what this might mean for business.

“The fishing industry is a good indicator of how it might impact other industries. As a headline issue, it has gained a lot of immediate focus, but could point to where other industries might struggle.”

Fine print

This weekend the Observer revealed that the volume of exports going through British ports to the EU fell by 68 per cent last month compared with January 2020.

RelatedPosts

Trump unveils $499 gold mobile phones for ‘real Americans’

No ‘millionaire exodus’ as a result of Labour policies, study finds

Shops could be forced to accept cash in future

Liverpool to introduce tourist tax from June

The huge reduction in activity has now been reported to Michael Gove by the Road Haulage Association.

Richard Burnett, the chief executive of the RHA, said the survey had also discovered 65 to 75 per cent of vehicles arriving from the EU were returning to the bloc empty due to a lack of goods, hold-ups in the UK and because British companies had halted exports to mainland Europe.

He said he found it “deeply frustrating and annoying that ministers have chosen not to listen to the industry and experts”, who have consistently called for greater urgency from the Government.

Related: Greens move into third in the polls as Labour left move out

Tags: Brexit

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

SUPPORT

We do not charge or put articles behind a paywall. If you can, please show your appreciation for our free content by donating whatever you think is fair to help keep TLE growing and support real, independent, investigative journalism.

DONATE & SUPPORT

Contact

Editorial enquiries, please contact: [email protected]

Commercial enquiries, please contact: [email protected]

Address

The London Economic Newspaper Limited t/a TLE
Company number 09221879
International House,
24 Holborn Viaduct,
London EC1A 2BN,
United Kingdom

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

No Result
View All Result
  • Home
  • News
  • Politics
  • Lottery Results
    • Lotto
    • Set For Life
    • Thunderball
    • EuroMillions
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

← NI Protocol a ‘very clear, present and specific challenge to peace and prosperity,’ says Protestant organisation ← Government yet to sign a single quarantine contract with hotel firms
No Result
View All Result
  • Home
  • News
  • Politics
  • Lottery Results
    • Lotto
    • Set For Life
    • Thunderball
    • EuroMillions
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

-->