Businesses confident of Brexit deal

Businesses are still confident the UK will strike a Brexit deal with the EU.

According to fintech business lender MarketFinance, which interviewed 5,000 UK business owners last week, the majority (61%) of UK business owners are optimistic that the UK government will secure a deal with their European counterparts in the coming days.

However, UK business owners ranked lack of clarity on new border control processes as the greatest potential challenge followed by delays in sending and receiving goods, and uncertainty about demand for goods and services in European markets.

On delays, most businesses (46%) anticipate delays of one to two weeks in processing goods at borders because of changes to processes

Anil Stocker, CEO at MarketFinance, said: “UK business owners have expressed their confidence that a deal will be done this month and that they will want to get on with business as usual quickly. However, it will be important to get information out to the business community as quickly as possible. Given the difficulties businesses already anticipate during the winter trading period, we need to ensure they have all the means necessary to prepare for a bumpy start to the new year. No one wants to see these businesses derailed from kicking off in 2021.”