A survey of SME decision makers conducted by YouGov has revealed that the overwhelming majority of SME business leaders are not planning to cut costs ahead of Brexit.
Whilst the majority of SME leaders didn’t feel that their business would be likely to reduce costs over the next six months, 28 per cent of those who said their business was likely to, cited Brexit as one of the reasons to cut costs. Despite the tight result, the 2017 general election result had a much smaller impact, with only 13 per cent giving it as a reason to reduce costs.
Whilst Brexit may not be on the agenda for most of the business leaders surveyed, however, marketing and advertising, and professional services were at the forefront of areas to cut back on.
Barney Byfield, Davpack’s Managing Director, said: “Many of our customers and colleagues are asking us about the likely effect of Brexit, and so far we have not seen an adverse impact on the demand for packaging supplies. Davpack’s research underlines this, and shows that UK businesses are generally confident and doing well so far this year.”
