Advanced Supply Chain Group Brexit Survey Results

Supply chain leaders remain confident despite ‘leave vote’ anniversary, new research reveals

New research, conducted by international logistics specialist Advanced Supply Chain Group, has found in the 12 months since the EU referendum, overall confidence has risen with respondents measuring current confidence level on a scale of 6.4 out of 10 today.

This is compared with 5.3 out of ten 10 in the days following the referendum in 2016. That said, more than half of supply chain business leaders feel they’ve been directly affected already by Brexit, with nearly one third citing currency fluctuations as having the biggest impact so far.

Overall, attitudes towards Brexit were varied with 38 per cent of those questioned admitting they felt the negotiations will create both opportunity and disruption for business in equal measure.

Looking ahead, one third of respondents think trade agreements will have the biggest impact on the future, while none felt that loss of EU funding would directly affect their business.

Almost half of those questioned confirmed that the recent general election result has had an impact and led to another dip in confidence regarding the future of business after Brexit.

Mike Danby, CEO at Advanced Supply Chain Group, commented: “The biggest issue with Brexit is that until now we’ve seen nothing but speculation, creating a potentially paralysing environment for businesses that operate globally.  As our research shows from speaking to business leaders across the supply chain, more than half feel they’ve already felt the impact of Brexit – and the discussions haven’t even started in earnest. The reasons for the impact range from exchange rates to an over reliance on EU workforce, but the reason cited by most people is the question mark over future trade agreements. The industry looks forward to hearing what the Prime Minister has to confirm on EU workers next week.

“We need the government to prioritise the economy but businesses have to keep pushing forward too. Uncertainty in economics and politics is the new normal so delaying progress is the only error. It’s up to our politicians to secure a quick and smart deal for our country, removing some of the uncertainty and allowing us to change our defensive stance back to an ambitious one. The performance of our politicians in recent months leaves a lot to be desired.”

When asked what their focus will be for business over the next two years, almost all respondents said that it was “business as usual,” demonstrating that they will carry on regardless but we need companies to grow their businesses and adapt to the changes to come.

“I believe businesses that are pragmatic and decisive right now – those that don’t sit on their hands hoping for a favourable deal – will prosper in the years to come,” Mike added.

 ASCG Brexit Survey Results

Intelligent Logistics

Advanced Supply Chain Group reimagine your supply chain through our Intelligent Logistics approach. We apply science and technology to your specific needs, to deliver the most effective, efficient and cutting edge supply chain possible.

Read more