According to a recent survey of midcap UK companies 65% of professional service firms are moving forward with their Brexit plans now Article 50 has been announced - leaving other industries trailing in their wake with an average of only 53% of firms across other industry sectors now engaged with planning.
The survey, sponsored by The Brexit Tracker, noted professional services were less likely to sit on the fence when it came to assessing the impact of Article 50 on their business with 42% of firms believing Article 50 will be good for business and only 25% of respondents feeling their might be no or little change while in other sectors positivity waned to 35% and ambiguity rose to 40%.
Ben Martin, MD for The Brexit Tracker said: “It’s great to see that so many in professional services have grasped the nettle and are moving forward with Brexit planning and clearly have a good grasp of how it will impact their firm.
“More concerning though is how industries such as retail, construction and engineering who one would think are heavily Brexit-dependent for resource and supply chain are yet to fully engage with the planning process, as it may be these firms that are actually the most exposed to Brexit outcomes.”
The Brexit Tracker analyses 390 economic indicators pertinent to the sector and a firm’s particular circumstance. Stakeholders can view their Brexit dashboard and understand likely implications for their business. They can also compare their views with those of their peers. The tool enables expensive resource to be smartly invested in strategic planning, not squandered in trying to make sense of a myriad of factors that may or may not be relevant to the business.
(Source: The Brexit Tracker)
