Three-quarters of Edinburgh businesses fear impact of no-deal Brexit

Three-quarters of Edinburgh businesses fear the negative impact of a no-deal Brexit, a new survey carried out by the Edinburgh Chamber of Commerce has revealed.

Three-quarters of Edinburgh businesses fear impact of no-deal Brexit

The responses to the survey came from over ten sectors, with the outlook for a no-deal Brexit being overwhelmingly negative.

A total of 76% of respondents confirmed that a no-deal Brexit would have a negative impact on their business and only 4% suggested it would have positive implications.

Despite this reality, only 14% have a specific plan to deal with the likely impact on their business.

The chamber surveyed 102 members in September and October 2019.

To address the concerns raised, the Edinburgh Chamber of Commerce has launched a series of workshops in partnership with Shepherd and Wedderburn LLP to help businesses to prepare, should the UK leave the EU without a deal on October 31st.

The workshops are available to all interested businesses, whether they are a member of the Edinburgh Chamber of Commerce or not.

They will commence this week, with two targeted at potential issues for the food and drink and hospitality sectors.

Guidance around the future supply chain and the ability to recruit EU staff will be among the issues covered.

There will also be further workshops starting next week, to consider the impacts on the digital and creative sectors and professional services. Issues such as the impact of no-deal on intellectual property and data protection will be touched on.

Liz McAreavey, chief executive of the Edinburgh Chamber of Commerce, said: “While we are encouraged that talks to avert a no-deal Brexit are ongoing, the results of this survey indicate the stark reality facing both our members and the city of Edinburgh if the UK leaves the EU without a deal. Whatever your views on Brexit, we are very clear that a no-deal scenario is the worst of all outcomes.

“So that we can support Edinburgh businesses to deal with the implications of this, we will be running a number of workshops in the coming weeks. These are available to everyone and will help ensure businesses are as prepared as possible for any scenario.”

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