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76% of UK manufacturers see Brexit border delays as major risk
Three quarters of companies concerned and 62% are stockpiling
A survey from manufacturing industry association EEF, in conjunction with AIG, of 242 companies found that 76% businesses believe delays at the British border will negatively impact their businesses.
With less than three months to go before the leaving date of March 29, the survey found that 62% of manufacturers were stockpiling goods ahead of Brexit. Although this is boosting demand for warehousing and logistics and boosting activity in manufacturing it bodes ill for industry sentiment following Brexit.
The survey took place between Nov. 1 and Nov. 29.
"While companies are naturally optimistic by their very nature, the spectre of Brexit is now very front of mind for manufacturers," EEF chief executive Stephen Phipson said. “This is bringing with it a whole host of risks from increased exchange rate volatility to rising input costs which right now are very difficult to plan for."