empty
 
 
Brexit damage seen by 75% of business owners
27-09-2021 14:05
Brexit damage seen by 75% of business owners
Brexit damage seen by 75% of business owners

Brexit has impacted the economies of many countries. Ireland is one of the countries that suffered the most from Brexit. There, production costs have been rising steadily since the UK's withdrawal from the EU. Irish manufacturers are unable to contain prices amid a sharp rise in costs. The spending of many food industries and agribusiness enterprises has increased by almost 70% compared to last year. The Brexit deal has affected most prices, ranging from packaging to electricity. Moreover, raw material shortages and transportation bottlenecks have worsened the situation. More than half of business owners said that supply problems due to Brexit were "a key factor in increased costs." Britain's withdrawal from the EU has had a negative impact on 72% of them. Linked Finance chief executive Niall O’Grady said the inflationary trend was another sign of the economy heating up, but insisted that businesses needed to be careful to maintain competitiveness, particularly where reliant on export markets. O’Grady commissioned a cross-industry survey of SME confidence. It showed that almost a quarter of respondents and 57 representatives of the wholesale and retail sector expect prices to rise in the future. The UK economy has also suffered a Brexit hit. British employers are facing the most severe labor shortage. UK food and drink exports to the European Union have plummeted by £2 billion ($2.8 billion) in 2021.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS
Can't speak right now?
Ask your question in the chat.
Widget callback