UK Firms Prepare for Turbulent Times Amid Brexit Uncertainty

  • Over half of UK businesses expect a revenue drop due to Brexit in 2019
  • MHR Analytics’ report reveals the findings from polling 200 senior decision-makers
  • IT, marketing, and sales set for increased investment
  • 96% of business chiefs understand data’s importance for their company’s future
  • Only 10% of businesses have implemented big data strategies
  • 72% of decision makers see a positive response to big data management

A recent report by MHR Analytics reveals that over half of UK businesses anticipate a revenue drop in 2019 due to Brexit. The study surveyed 200 senior decision-makers, with reduced customer spending coming in second at 22%. IT investment is set to increase for 59% of firms, followed by marketing (48%) and sales (46%). Despite the challenges, 96% of business leaders recognize data’s importance for their company’s future, but only 10% have implemented big data strategies. Nick Felton, SVP at MHR Analytics, emphasizes the need for better data management in uncertain economic conditions.

Factuality Level: 8
Factuality Justification: The article is based on a survey conducted by MHR Analytics which polled 200 senior decision-makers in UK businesses about their investment plans and the impact of Brexit on revenue. It provides relevant information about the findings of the survey and quotes from Nick Felton, SVP at MHR Analytics. The article is mostly factual and objective, with some analysis and interpretation by the author.
Noise Level: 3
Noise Justification: The article provides relevant information about the impact of Brexit on UK businesses and their investment plans, as well as insights into their strategies for tackling potential revenue drops. It also highlights the importance of data management and analytics in uncertain times. However, it could benefit from more detailed analysis or context on how these trends compare to previous years or other countries’ experiences.
Financial Relevance: Yes
Financial Markets Impacted: Brexit, reduced customer spending, GDPR
Financial Rating Justification: The article discusses the impact of Brexit on UK businesses’ revenue and their investment plans, as well as the potential impact of reduced customer spending and GDPR. It also mentions companies increasing investments in IT, marketing, and sales to tackle these challenges. The focus on data management and analytics is highlighted as a key strategy for decision-making in uncertain economic times.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no mention of an extreme event in the text, and the potential revenue drop due to Brexit is not considered severe enough to be rated as moderate or higher.

Reported publicly: www.retailsector.co.uk