British Businesses Worry That Brexit Could Weigh on Markets Till 2021
Arslan Butt • 1 min read
According to a recent monthly survey by the BOE, 42% of finance directors worry that uncertainties driven by Brexit could continue to impact businesses till at least 2021, while around 20% worry about a no-deal Brexit taking place.
In November, only 33% of survey respondents were worried about Brexit-related uncertainties to impact businesses until 2021. On the positive side, there has been a slight uptick in the number of respondents who believe that Britain will exit the EU with a deal in place, from 46.2% in November to 46.6% in the present survey.
Brexit remains among the top three business concerns for 53% of British businesses driving uncertainty, although the percentage has reduced since November. Business sentiment has remained under strain since the Brexit referendum of 2016, but there was a slight rise in hopes when PM Boris Johnson’s Conservatives came back to power in the December elections.
However, Brexit uncertainties are resurfacing once again over tensions that Britain may not be able to ink a beneficial trade agreement with the EU by the end of this year once it leaves the Union on January 31.