Most regional firms don't feel threatened by Brexit, says study

Statistics unveiled at the latest Sheffield City Region Quarterly Economic Survey breakfast (QES) revealed that most local businesses are not worried about the consequences of Britain leaving the EU.

David Littlewood, who is a professor of strategic management at the University of Sheffield’s Management School, reported that many small and medium-sized enterprises (SMEs) were feeling confident in the face of uncertain times.

Of the companies surveyed, only 29 per cent of respondents in the service sector and 21 per cent of respondents in the manufacturing sector expressed “marked concern” about what the impending exit from the EU could mean for them.

More than 90 businesses attended the Sheffield City Region Quarterly Economic Survey (QES), which was hosted at The Source, Meadowhall, and organised by the Sheffield City Region’s four Chamber of Commerce.

Neil MacDonald, board member at the Sheffield City Region Local Enterprise Partnership, said: “Improvements in predicted turnover and overseas activity reflect an optimism and strength among local SMEs in this quarter. These improvements are an interesting development that also shine a light on how Brexit might affect Sheffield City Region.

“Entering into the international marketplace can be challenging and it’s not an easy path to take. But for those businesses who choose to explore international trade, there can be considerable rewards, which are demonstrated by the progress we have made so far.”

Andrew Denniff, chief executive, Barnsley & Rotherham Chamber of Commerce said: “The survey results show that despite relatively difficult challenges facing many local businesses, the outlook remains generally positive.”

The next QES survey begins on February 19 and runs until March 12. All businesses across the Sheffield City Region are invited to participate.

The survey can be accessed at screconomy.org.uk.