A new study by Huthwaite International reveals over half of businesses in the financial sector believe Brexit will have a long-term positive impact.
Apparently, 51% of businesses remain confident about business growth post-Brexit but worry short term with 33% concerned with the initial impact. Economic stability, a no-deal Brexit and changes to laws and legislation rank are amongst the biggest concerns for businesses in the financial sector post-Brexit.
A new state-of-the-nation study into how businesses in the financial sector are prepared for Brexit, has revealed a staggering 37% of businesses believe the process of exiting the EU is currently having a positive impact on their business, while 29% feel it hasn’t had any impact at all.
Commissioned by global sales, negotiation and communication experts, Huthwaite International, the report shows that post-Brexit business prospects remain positive, with 51% of businesses believing their growth potential will prosper post-Brexit, regardless of the outcome.
When looking at what worries businesses most about the UK leaving the European Union, economic stability, a no deal Brexit and changes to laws and legislation ranked as the highest concerns.
Improving negotiation skills also ranked as the biggest priority amongst businesses before the Brexit deadline, with many sighting it to be a key priority when it came to safeguarding profits and reducing overheads.
Tony Hughes, CEO at Huthwaite International said: “Gaining the skillset and knowledge to survive this economic uncertainty is vital for business success. The UK is packed with ambitious and prosperous companies that in theory should flourish regardless of economic uncertainty, however the importance of obtaining the core skillsets to flourish shouldn’t be underestimated.
“One of the few certainties the UK faces is that, for selling organisations, things are getting tougher. As buying organisations entrench, delaying or even cancelling purchasing decisions, sales teams across all sectors and markets are having to up their game. This means sophisticated negotiation skills aren’t just important to ensure the UK secures a quality deal with the EU, but also form the fundamentals for ensuring business success across the UK too.”