The readiness of companies for Brexit has increased

SPCR conducted a survey among 121 companies of all sizes, with roughly the same participation of small, medium and large entreprises. The interest in the survey and its results show that despite the chaos, confusion and uncertainty of the EU-UK negotiations and its outcome and - in addition - the COVID-19 crisis they face, companies have responded responsibly and their preparedeness has grown. We should give them credit for that.

When asked how they assess their company's preparedness for the forthcoming change of trade regime with the UK, 66% of all respondents (76 companies) state that they are not affected at all. This may be true or it may indicate a lack of information or understanding. Of those to whom it is applicable (39 companies), around one third (14 companies) claim that they are not prepared and do not have sufficient information. On the other side, around two thirds (25 companies) are well prepared or prepared to some extent.

If they compare the level of preparedness now and in January this year, of those affected (to whom it is applicable - 37 companies), the preparedness of the vast majority of companies (almost 90%) is the same or better. Approximately 60% of these companies state that their level of preparedness remains the same.

When asked about their fears of the UK leaving without a trade deal, about half of the respondents consider the question irrelevant to them. Of the other half of the respondents, almost 95% of companies are highly, moderately or slightly concerned. Only less than 6% of companies are not concerned, which shows that the level of concern and uncertainty remains high.