Over a third of SMEs concerned about Brexit, says GlobalData

Brexit remains the largest concern for small businesses in 2018.

Leading data and analytics company, GlobalData, has said that uncertainty remains over whether a deal of any sort will be reached by the March 2019 deadline.

Uncertainty surrounding a no-deal remains the biggest issue, with existing arrangements for exporters and importers under threat.

Similarly, sectors, such as construction which is heavily reliant on migrant workers.

GlobalData’s 2018 UK SME Insurance Survey found that over a third of respondents (36.8%) stated they were either concerned or very concerned about Brexit.

This indicates there is a sizeable market for insurers to include cover for losses as a direct result of Brexit in their business policies in the short term.

Insurance Analyst at GlobalData, Ben Carey-Evans, said:

Due to the concerns small businesses have, it is sensible for insurers to react and help provide businesses with some peace of mind as the ambiguity continues.

- Digital Desk