Tuesday 21st January 2020
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Firms still worried on impact of Brexit on supply chain

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More than a quarter (27 per cent) of East of England businesses are concerned about the potential impact Brexit will have on suppliers and customers, according to research for involvency trade body R3.

Mark Upton, Eastern chair of R3 and a partner at Ensors Chartered Accountants in East Anglia, said: “It’s a serious worry that so many local businesses may feel exposed to a supply chain risk as a result of Brexit. The proportion of local businesses who may be sticking their head in the sand over Brexit is also sizeable. Businesses which fail to understand how Brexit may affect their supply chains are at risk of sleepwalking into trouble.”

The survey showed that almost a fifth of firms in the region have reviewed the potential impact of Brexit on their suppliers and customers and are ‘somewhat concerned’, whilst one in ten are ‘very concerned’. But some 41 per cent were either ‘somewhat' or ‘very' reassured. Of the businesses surveyed nationally, manufacturers were most concerned by the potential impact of what they found. Companies in the retail sector were most likely to be reassured.