Despite several Brexit shocks, the UK is expected to remain attractive for businesses. One year on from the EU Referendum, businesses have proven their resilience despite the anticipated downturn in investment. In the last three months of 2016, companies’ profits totalled over 105 billion pounds and confidence has risen in SMEs despite an initial fall. The sharp drop in the value of pound sterling which is perhaps the most visible sign of Brexit, has allowed the strength of exports to grow, offsetting much of the predicted doom and gloom.
Although the economic conditions and high profits for businesses are positive, there are still uncertainties about the outcomes of the negotiation between the UK and the EU. These concerns are causing a decline in investments and it is expected that the metalworking, automotive and construction industries will be hit the hardest.
If you are looking to protect your business against uncertainty, please get in touch with one of our specialist advisors on 01275 817320.