The announcement of the results of the Leave vote will likely burn bright in the memories of business leaders globally, particularly in the UK. Indeed, the repercussions of Brexit are so extensive that business leaders around the world are paying close attention to the geopolitical landscape. June 24th 2016 kicked off a chain reaction which led to major political and economic events from the resignation of Prime Minister David Cameron to significant dips in both the FTSE 100 and FTSE 250.
Over the last several months, we have witnessed politicians, economist analysts, the media, and even celebrities commenting on the impact of Brexit – both in the short and long-term. Dun & Bradstreet has been carefully monitoring Brexit and its implications for business leaders across the globe, and will continue to do so.
We took a close look at how UK businesses were feeling about Brexit. How have they been affected already? What has this done to their business and what further impact will there be? Moreover, we wanted to understand what their plans were to cope – were they, as the media had suggested, planning to abandon the UK? Or were such reports simple sensationalism?
We commissioned a study of 200 financial leaders within UK businesses to find out the sentiment about Brexit from UK business leaders. The results were very clear and, at times, stark. Two core takeaways:
- Brexit has limited business growth potential: 64% of UK businesses admit the Brexit vote has already negatively impacted their growth potential.
- Brexit will reduce UK investment: Almost half (49%) of the 200 financial leaders surveyed say they are likely to leave or further reduce investment in the UK post-Brexit.