{"id":12524,"date":"2019-04-02T15:02:27","date_gmt":"2019-04-02T15:02:27","guid":{"rendered":"https:\/\/www.instantoffices.com\/blog\/?p=12524"},"modified":"2021-06-30T16:13:00","modified_gmt":"2021-06-30T16:13:00","slug":"smes-no-strategic-plan-brexit-survey-results","status":"publish","type":"post","link":"https:\/\/www.instantoffices.com\/blog\/featured\/smes-no-strategic-plan-brexit-survey-results\/","title":{"rendered":"70% of SMEs Have No Strategic Plan in Place for Brexit – Survey Results"},"content":{"rendered":"

Brexit negotiations are at an impasse as decision-makers continue to remain at odds on withdrawal negotiations. With next steps still in debate and deadlines looming, we surveyed over 1000 SMEs to better understand their Brexit challenges and key concerns for upcoming months.<\/p>\n

As one of the longest periods of uncertainty in decades with no clear end in sight, Brexit is a major source of frustration as businesses in every sector aim to plan for the future. Particularly vulnerable are SMEs, who make up 99%<\/a> of all businesses in the UK.<\/p>\n

With over five and a half million Britons signing a petition<\/a> to revoke Article 50 and remain in the EU – one of the largest ever recorded on the parliament website \u2013 and MPs voting to take control of the process in a 329 to 302 vote, an extension is the most likely scenario in upcoming weeks.<\/p>\n

With speculation around rising costs, increased regulations, skill shortages and more, small to medium-sized businesses are facing increasing pressure to plan for an uncertain few months ahead.<\/p>\n

SMEs Share Their Thoughts on Brexit<\/span><\/strong><\/p>\n

Over 1000 SMEs responded to our survey.<\/p>\n

47% of respondents are micro-businesses, comprised of between one and 10 people and accounting for 96% of all businesses in the UK. 32% of respondents are from medium-sized businesses, which includes between 50 and 240 employees.<\/p>\n

The top seven sectors with the most responses are: <\/strong><\/p>\n

    \n
  1. Banking and finance<\/li>\n
  2. Engineering and manufacturing<\/li>\n
  3. IT<\/li>\n
  4. Business, consulting and management<\/li>\n
  5. Property and construction<\/li>\n
  6. Media and internet<\/li>\n
  7. Retail<\/li>\n<\/ol>\n

    Uncertainty Reigns with 40% of SMEs<\/span><\/strong><\/p>\n

    \"Brexit<\/a><\/p>\n

    SMEs have an unfavourable outlook on Brexit, with 38% feeling negative against a positive minority at 22%. Almost twice as many are uncertain at 40%. Inability to predict what a no-deal Brexit looks like or what the short-term impact will be should the UK withdraw, businesses are unable to adequately plan for the short and medium-term implications.<\/p>\n

    27% of SMEs say a change to regulations tops the list as their biggest cause for uncertainty this year. Implications for EU employees rank second on the list with 24% of business owners worried about the impact of Brexit on HR. Tied directly into this is skills shortages, with 20% of businesses concerned that Brexit complications could impact talent acquisition.<\/p>\n

    According to the LinkedIn UK Workforce Report<\/a>, the number of international professionals moving to the UK reduced in 2018, with London being the most impacted region when it comes to the talent gap.<\/p>\n

    \"Top<\/a><\/p>\n

     <\/p>\n

    70% of Businesses Have No Strategic Plan in Place<\/span><\/strong><\/p>\n

    Uncertainty around Brexit has impacted planning and strategy, with 70% of businesses saying they either have no strategic business plan in place or don\u2019t feel there is enough information in their sector to make an informed decision.<\/p>\n

    With a large majority feeling they don\u2019t have the information needed to effectively plan for Brexit, small businesses could be missing out on opportunities and the ability to adequately respond to possible outcomes.<\/p>\n

    \"Businesses<\/a><\/p>\n

     <\/p>\n

    Identifying New Opportunities in the UK A Top Priority in 2019<\/strong><\/span><\/p>\n

    Despite uncertainty and the inability to plan, most businesses say their top priorities for 2019 include identifying new opportunities in the UK, cutting costs and exploring new opportunities in the EU.<\/p>\n

    While many said they wouldn\u2019t feel comfortable signing a new office lease this year, 45% of businesses are considering securing contingency office space elsewhere in the UK to provide flexibility and the ability to scale when opportunities are identified.<\/p>\n

    \"Businesses<\/a><\/p>\n

    Backing this up is data from our UK Market Summary 2018, which shows more businesses of all sizes are looking to reduce costs and increase flexibility.<\/p>\n

    There is now a greater number of flexible space operators in the country than ever before, with the market seeing steady double-digit growth over the last five years as more companies choose flexible space over conventional leases. In London, the flex market has grown 25% in two years, with the biggest growth coming from larger occupiers looking for 20 desks or more.<\/p>\n

     <\/p>\n

    \"Businesses<\/a><\/p>\n

    \n

    Looking for Office Space?<\/strong><\/h2>\n

    We Operate in Some of the World’s Top Cities:<\/span><\/p>\n

    London<\/a>, New York<\/a>, San Francisco<\/a>, Paris<\/a>, Singapore<\/a>, Hong Kong<\/a>,
    \n    Search more locations<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    Brexit negotiations are at an impasse as decision-makers continue to remain at odds on withdrawal negotiations. With next steps still in debate and deadlines looming, we surveyed over 1000 SMEs to better understand their Brexit challenges and key concerns for upcoming months. As one of the longest periods of uncertainty in decades with no clear end in sight, Brexit is a major source of frustration as businesses in every sector aim to plan for the future. Particularly vulnerable are SMEs, who make up 99% of all businesses in the UK. With over five and a half million Britons signing a petition to revoke Article 50 and remain in the EU – one of the largest ever recorded on the parliament website \u2013 and MPs voting to take control of the process in a 329 to 302 vote, an extension is the most likely scenario in upcoming weeks. With speculation around rising costs, increased regulations, skill shortages and more, small to medium-sized businesses are facing increasing pressure to plan for an uncertain few months ahead. SMEs Share Their Thoughts on Brexit Over 1000 SMEs responded to our survey. 47% of respondents are micro-businesses, comprised of between one and 10 people and accounting for 96% of all businesses in the UK. 32% of respondents are from medium-sized businesses, which includes between 50 and 240 employees. The top seven sectors with the most responses are: Banking and finance Engineering and manufacturing IT Business, consulting and management Property and construction Media and internet Retail Uncertainty Reigns with 40% of SMEs SMEs have an unfavourable outlook on Brexit, with 38% feeling negative against a positive minority at 22%. Almost twice as many are uncertain at 40%. Inability to predict what a no-deal Brexit looks like or what the short-term impact will be should the UK withdraw, businesses are unable to adequately plan for the short and medium-term implications. 27% of SMEs say a change to regulations tops the list as their biggest cause for uncertainty this year. Implications for EU employees rank second on the list with 24% of business owners worried about the impact of Brexit on HR. Tied directly into this is skills shortages, with 20% of businesses concerned that Brexit complications could impact talent acquisition. According to the LinkedIn UK Workforce Report, the number of international professionals moving to the UK reduced in 2018, with London being the most impacted region when it comes to the talent gap.   70% of Businesses Have No Strategic Plan in Place Uncertainty around Brexit has impacted planning and strategy, with 70% of businesses saying they either have no strategic business plan in place or don\u2019t feel there is enough information in their sector to make an informed decision. With a large majority feeling they don\u2019t have the information needed to effectively plan for Brexit, small businesses could be missing out on opportunities and the ability to adequately respond to possible outcomes.   Identifying New Opportunities in the UK A Top Priority in 2019 Despite uncertainty and the inability to plan, most businesses say their top priorities for 2019 include identifying new opportunities in the UK, cutting costs and exploring new opportunities in the EU. While many said they wouldn\u2019t feel comfortable signing a new office lease this year, 45% of businesses are considering securing contingency office space elsewhere in the UK to provide flexibility and the ability to scale when opportunities are identified. Backing this up is data from our UK Market Summary 2018, which shows more businesses of all sizes are looking to reduce costs and increase flexibility. There is now a greater number of flexible space operators in the country than ever before, with the market seeing steady double-digit growth over the last five years as more companies choose flexible space over conventional leases. In London, the flex market has grown 25% in two years, with the biggest growth coming from larger occupiers looking for 20 desks or more.   Looking for Office Space? We Operate in Some of the World’s Top Cities: London, New York, San Francisco, Paris, Singapore, Hong Kong, Search more locations<\/p>\n","protected":false},"author":1,"featured_media":12526,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[214,76,1],"tags":[222,539,538],"class_list":["post-12524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-instant-offices-news","category-reports-and-research","tag-brexit","tag-brexit-2019","tag-brexit-survey-results"],"yoast_head":"\nBrexit Survey Results 2019 - SME's Share Top Brexit Priorities<\/title>\n<meta name=\"description\" content=\"Survey results show 70% of SMEs don't have a strategic plan in place for Brexit - discover more survey results from over 1000 respondents.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.instantoffices.com\/blog\/featured\/smes-no-strategic-plan-brexit-survey-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brexit Survey Results 2019 - 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