Brexit survey findings spark call for Highland businesses to take action
BUSINESSES in the Highlands and Islands are not doing enough to prepare for the impact of Brexit, Highlands and Islands Enterprise (HIE) has warned.
More than two-thirds (70 per cent) of firms who took part in the agency’s latest business panel survey in September and October highlighted Brexit as one the main risks they face, with only 13 per cent believing it posed no risk to their business.
Despite this, the survey showed that only 17 per cent of firms have a plan in place to help them prepare for Brexit, and a fifth (20 per cent) recognise that they need to develop a plan.
Carroll Buxton, HIE’s director of regional development, said: “While there is still a great deal of uncertainty about how Brexit will affect businesses in the region, some are already taking steps to prepare, and we would encourage others to do so.
“There is help available on the Prepare for Brexit website and from our own website. Through these, businesses can access expert advice to help them plan, including a handy 15-point Brexit checklist.”
More than a third (34 per cent) of businesses that took part in the survey were trading internationally, but respondents had mixed views on the importance to their business of access to the European Single Market. Just over half (55 per cent) regarded this as important while 41 per cent said it is not important. However, a higher proportion (79 per cent) considered the single market important to the Scottish economy overall.
The free movement of people across the EU was also viewed as important to the Scottish economy by 86 per cent of respondents, yet only two in five (41 per cent) felt it was important to their own business.
In addition to questions on Brexit and international trade, the business panel survey covered other core issues such as economic confidence, business performance and optimism.
Almost two thirds (63 per cent) said they were confident in the region’s economy and 80 per cent were optimistic about their own performance and prospects.
