Brexit: the OMB view

While the majority of OMBs have yet to be affected by the UK’s decision to leave the EU, many express concern that the uncertainty caused may have a negative impact on their business in the future.

Although Article 50 had not been triggered during the survey period, 35% of OMBs said their businesses had already experienced some negative impact as a result of the EU referendum result. In contrast, 16% of OMBs reported some positive impact since the referendum.

Amongst OMBs suffering negative repercussions as a result of the Brexit vote, most indicated this was due to the weaker pound, which has pushed up the cost of raw materials, imports and prices charged by suppliers.

Perhaps surprisingly given the weak pound, OMBs that export were more likely to report that their business had suffered: 42% of exporting OMBs reported a negative business impact, while 24% of exporters said their business had benefit.

To download our full report and gain further insights into OMBs views on Brexit, please click here.