New YouGov poll reveals impact Brexit will have on businesses across Yorkshire and the Humber.
Yorkshire Bank asked SMEs if they’ll be better or worse off after leaving the EU
More than a third of small and medium-sized companies in Yorkshire and the Humber think they will be worse off because of Brexit.
New YouGov research, conducted by the Telegraph in partnership with Yorkshire Bank, asked small and medium enterprises (SMEs) in the region to consider the impact that leaving the EU will have on business in 2019.
Nearly a quarter (24%) of SMEs in Yorkshire and the Humber believe business will be “somewhat” worse off, while 11% think business will be “significantly” worse off.
Just 14% of SMEs say business will be better off overall because of Brexit.
Gavin Opperman, Group Business Banking Director at Yorkshire Bank (above), said: “There are a series of potential headwinds. With Parliament in deadlock over Brexit, businesses have little clarity on what awaits them after March 29. This has made planning challenging, and we have seen our customers adopting a ‘wait and see’ attitude.”
The business attitudes towards Brexit in our region mirror a national trend, with 39% of all SMEs across the UK agreeing that leaving the EU will make them worse off.
Alongside Brexit, SMEs in Yorkshire and the Humber also anticipate other changes in 2019.
A quarter (25%) of those in our region say they are likely to increase investment in new technology this year – slightly more than the UK average (23%).