08 Oct 2019
Research carried out by insolvency trade body R3 has suggested that a third of UK small businesses are concerned about the impact Brexit will have on their supply chains.
R3's survey of 1,200 business leaders revealed that 11% of firms have reviewed the potential impact of Brexit on their operations, and harbour concerns in regard to their supply chains.
However, 16% of small businesses stated that they have not yet reviewed the potential impact of Brexit on their supply network.
'It's a serious worry that a third of UK businesses feel they are exposed to a supply chain risk as a result of Brexit,' said Duncan Swift, President of R3.
'A key part of preparing for Brexit is looking at how it affects your supply chain and customers. It's all very well making sure your own business has put adaptation plans in place, but these plans might not help if the businesses you depend on – customers and suppliers – are unprepared.
'Businesses which don't understand how Brexit will affect their supply chains are at risk of sleepwalking into trouble.'