Opinions on Brexit are divided and this is also reflected in Banking Circle research. While a third of businesses (30%) can no longer purchase certain products and services from the UK due to Brexit, half of businesses (50%) indicate they are not affected. For 33% of companies, Brexit is not a reason to reduce trade with the UK in the future.
“There is a clear divide evident in the results,” said Marcus Jarbaugh, head of Benelux sales at Banking Circle. This may be due to the impact of Brexit on organisations. Brexit requires some form of adjustment from all parties. However, these adjustments will be more radical for some organizations than others. At Banking Circle, we ensure international payments are as simple as possible. This saves companies a lot of time and effort and means they will not have to take into account the high costs as a result of Brexit.
Although Brexit brings many changes and uncertainty, a large number of companies indicate that they are somewhat prepared for it. For example, half of businesses (50%) say they know exactly how Brexit will impact their business operations. Meanwhile, 61% of companies are choosing to adapt their business operations to Brexit.
The survey was conducted among 337 managers working in B2B companies in the UK. While some fear losing customers as a result of Brexit, nearly half of businesses (45%) say they are not worried about this.