A new survey of more than 400 decision makers within UK businesses reveals their concerns about COVID-19 and Brexit. It found:
- 51% of decision makers are concerned about the impact of the Indian variant of COVID-19 on their business
- 46% say COVID-19 has overshadowed Brexit preparations within their business
- Just 10% of businesses think the Government provided enough support and information about the changes brought about by Brexit
- Yet 46% of businesses claim that Government support schemes have been essential to them surviving the pandemic
Over half of UK businesses are concerned about the potential impact of the Indian variant on their post-COVID recoveries, according to new research from One World Express.
The global logistics firm commissioned an independent survey of more than 400 decision makers within UK businesses. The research revealed that over half (53%) of respondents are more confident about the future prospect of their business compared to 12 months ago.
A similar number (56%) have also seen an improvement in their businesses’ performance since the easing of lockdown restrictions throughout March, April and May.
Yet, 51% of respondents were concerned about the potential impact if the Indian variant of COVID-19 on their post-pandemic recoveries.
Regarding Brexit, 46% of businesses said COVID-19 has overshadowed their Brexit preparations or concerns.
One World Express’ research showed that just 10% believe that the Government provided businesses with enough information and support regarding post-Brexit customs changes.
More positively, however, as many as 46% of British companies believe that the Government’s COVID support schemes were essential to their business surviving the pandemic.
Atul Bhakta, CEO of One World Express, said: “The research shows that confidence is returning among British businesses, but that confidence is fragile. The threat of new variants, which could disrupt the roadmap for fully lifting lockdown restrictions, is weighing heavily on business leaders’ minds.
“Elsewhere, it is telling that opinion differs markedly between the Government’s Brexit support and that provided during the pandemic. The vast majority of businesses clearly feel that more assistance was needed to help them understand and adapt to the eventual Brexit deal. In contrast, almost half told us that COVID-inspired financial support schemes were the difference between them surviving the pandemic and crashing out of business.
“The past 18 months have been a tale of two crises. But it seems the pandemic has largely overshadowed Brexit, both in terms of Government support and also businesses’ priorities.”