Three quarters of businesses not ready for end of Brexit transition period | WDM

Twitter
Follow us on Twitter
MENU
22
July

Three quarters of businesses not ready for end of Brexit transition period

Three quarters of UK businesses are not fully prepared for the end of the Brexit transition period, according to a survey conducted by the Institute of Directors (IoD).

Nearly half of the 978 company directors polled in late June said they have not been able to prepare. One in seven said that the coronavirus (COVID-19) has negatively impacted preparations, while a third said that a lack of clarity on a deal between the UK and the EU was preventing changes.

Over two thirds of directors said that reaching a deal was important for their organisation.

Amongst those directors that favour being able to diverge from EU rules, 71% agreed that securing a deal is important for the economy.

Commenting on the survey, Jonathan Geldart, Director General of the IoD, said: ‘A commitment to some form of reciprocal phasing-in of changes once clear is a long-standing ask from our members, and the benefits would be significant. At a time when government is rightly straining every sinew to help firms deal with widespread disruption, it would be counterproductive not to seek to minimise it at the end of the year.’

7 Questions you must ask an accountant
How To Grow your business by 46.4% - Special Free Whitepaper
To get the free whitepaper, simply enter your name and e-mail address below and click the Get FREE Whitepaper button. You will receive an email shortly with your FREE Whitepaper pdf from our team...

Fields marked with an * are required

By submitting this form you agree to receive information via email newsletters about products and services from WDMCA which we think may interest you. You can opt out of receiving these newsletters by clicking the unsubscribe link in newsletters we send.

Download our FREE iPhone app

Testimonials

From the opening of our store to the eventual sale of four stores seventeen years later, WDM have provided invaluable assistance all the way along. They are more than just an accountant to us and we couldn't speak highly enough of them.

Pat McKenna - McDonalds Franchisee
Sign up to our newsletter
Oakfield House, 378 Brandon Street, Motherwell ML1 1XA        t: 01698 250 251        f: 01698 250 261