Small Businesses Not Prepared for No Deal Brexit, Says Institute of Director's Renison

The transcript discusses the frustration and uncertainty faced by businesses due to political decisions, particularly regarding a no-deal exit. Larger companies are beginning to plan contingencies, while smaller ones remain unprepared. The need for swift action and consensus in Parliament is emphasized, especially concerning future relationships. Manufacturing is highlighted as a sector at risk, with potential job losses and capital movement if clarity on tariffs and customs is not provided.

What is the main concern for smaller companies regarding a no-deal exit?

• They are confident in their current strategies.

• They have already implemented contingency plans.

• They are waiting for the next move and are not prepared.

• They are well-prepared for any outcome.

What is the main challenge in altering the withdrawal deal?

• The deal is primarily about an orderly exit.

• It is easy to change the deal.

• All parties agree on the changes needed.

• There is no room for consensus.

What is the potential impact on jobs and capital in the UK due to Brexit uncertainty?

• An acceleration of jobs and capital leaving the UK.

• A decrease in capital leaving the UK.

• An increase in job opportunities.

• Stability in the job market.

How has the manufacturing sector responded to Brexit uncertainty compared to financial services?

• Financial services are less prepared.

• Manufacturing has held off on contingency planning.

• Both sectors are equally prepared.

• Manufacturing is ahead in contingency planning.

What is a significant factor that could accelerate business relocation from the UK?

• An extension of the Brexit deadline.

• Uncertainty about leaving with or without a deal.

• A consensus on an alternative deal.

• Clear information on tariffs and customs.