LONDON (UK) – According to a survey, almost half of British small and medium-sized manufacturers are in the dark about how the Brexit transition period would affect their business.
There are less than seven weeks left for the transition period to come to an end and the government has stepped up its negotiations with Brussels for a deal to protect nearly 1 trillion dollars of trade.
The survey was conducted by consulting firms South West Manufacturing Advisory Service (SWMAS) and the Manufacturing Growth Programme. It stressed the uncertainty hovering around Britain’s future trade pacts with the bloc.
The survey results showed that 47% of manufacturers were ignorant about the impact of the end of the transition period on their business. On the other hand, 32% said it would affect their recovery.
Only 3% believed there would be a boost to the economy.
“It’s like a perfect storm for management teams trying to plan, but have no idea what they are planning for and many are also coping with lower levels of resource as a result of the pandemic,” said Nick Golding, managing director of SWMAS.
