Just 14.1% of North East firms think Brexit will be good for them, survey finds

A new survey gauging North East views on Brexit has revealed that over half of the region’s businesspeople (52.4%) believe it will negatively impact their company.

The study, organised by the North East England Chamber of Commerce, found that just 14.1% of firms in the region expect it to benefit them.

‘The cost of trade’ was the top concern highlighted in the survey, followed by ‘changes to standards and regulations’ and ‘changes in access to EU funding’.

It was also found that two in five businesspeople (40.1%) feel their company is underprepared. 7.2% reported feeling completely unprepared.

Lesley Moody MBE, from Chamber member AES Digital Solutions, a software business based in Stockton, wanted the UK to remain part of the EU.

Lesley said: “When the referendum results were announced, two years seemed a long way away but there are still way too many grey areas with Brexit.

“I’m not surprised by these Chamber survey results. As a business community we now all need party-wide agreement on the way forward. We need more information on the Chequers deal so we can fully understand what is being proposed.”

Respondents were also asked where they would seek business advice on leaving the EU. Most cited the Chamber (30.2%) and professional consultants such as accountants (14.3%) or solicitors (12.0%).

The Government ranked just fifth in this regard, trailing behind business and industry.

North East England Chamber of Commerce chief exec James Ramsbotham commented: “Since 2016, there has been a total lack of leadership and clarity in the negotiation process.

“At the Chamber, we’ve been helping our members start making preparations but now, with only seven months to go, businesses are still in the dark on the realities of Brexit and are still waiting for Government to give clear answers to fundamental questions.”

Elsewhere, the survey offered businesses the chance to include a message for the Government.

The results were wide-ranging but a predominant theme was frustration at the lack of progress and engagement. Some expressed the view that as the decision had been made, negotiations should proceed swiftly.

Ramy Zack, owner of Chamber member Tyne Moulds & Machinery Ltd in Newcastle, backed the leave vote.

He said: “My views haven’t changed. I think the EU should be a loose federation of trading nations. With regard to the overall survey results I agree, yes we need clarity.

“The Government has messed it up by doing Brexit half-heartedly so the EU has us on the back foot. We should have gone in guns blazing. However, I believe business will prevail as we buy substantially more goods from the EU than they sell to us.”

He continued: “As regards frictionless customs, necessity is the mother of all inventions, Spain doesn’t want to have lorry loads of rotting vegetables on Calais docks, the EU needs to compromise.

“There needs to be common sense where we have mutual interests such as security, pharmacology, IP, safety standards and many more. The EU has to ditch this vindictive idea, that once we leave we will be cut off completely.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →