10th February 2017
Following the successful Brexit Bill vote in the House of Commons, the government is going through the final phases before formally triggering Article 50 in March.
However, businesses are still concerned about the uncertainty surrounding the process and the effect it will have on their operations.
Here is a round-up of the top Brexit-related stories this week.
Brexit hindering business goals
Business leaders see economic change due to Brexit as the most likely factor that will hinder the achievement of business objectives over the next 3 years.
CIPD’s latest report shows that 20% of leaders feel unable to encourage change within their organisations due to economic uncertainty.
Peter Cheese, chief executive of the CIPD, said:
“It’s more important than ever that businesses look ahead and plan their people strategies, and understand the skills and talents they need in order to ensure that that they are prepared for the future, regardless of what the final arrangements look like.”
Uncertainty challenge for SMEs
According to American Express, 28% of SMEs are concerned about potential domestic political uncertainty. 35% identify uncertainty in European export markets as a key threat to their operations.
Despite the challenges, 47% are confident that they have the right plans in place to increase export sales.
Jose Carvalho, senior vice president, Global Commercial Payments Europe at American Express, said:
“Businesses are deftly navigating through challenges and this resilience is helping them to thrive."
Regional property investment on the rise
Regional property markets are offering better investment opportunities than in London due to the impact of Brexit.
Kames Capital states that the UK leaving the EU may pose a risk to the capital’s outlook in the short-term with better investment found elsewhere for at least 12 months.
David Wise of Kames Capital, said:
“Tenants are signing new leases and paying modestly higher rents, and even if this were to change, we are better insulated than competitors as we don’t need to be seeing rental growth to deliver attractive returns.”
Talk to us today about how Brexit will affect you and your business.