One in Four Admit Nervousness Amid Uncertainty

  • One in four UK small retail businesses fearful of Brexit, according to YouGov research analyzed by Vend
  • 80% of surveyed retailers think EU talks are not going well
  • 26% of small retail businesses feel less confident about Brexit than in 2016
  • Nearly a third believe Britain’s global influence will decrease due to Brexit
  • UK retailers are taking preparatory measures for post-Brexit
  • Some retailers considering manufacturing products in the UK to reduce reliance on external supply chain

A recent study by Vend, based on YouGov data, reveals that a quarter of small UK retail businesses are fearful of the potential impact of Brexit. The research involved over 1,000 senior managers from organizations with fewer than 20 staff members. Of those surveyed, 80% believe negotiations with the European Union are not going well, and 26% feel less confident about Brexit than they did in 2016. Almost a third think Britain’s global influence will decline because of it. Higor Torchia, UK country manager for Vend, said that while uncertainty exists, retailers have historically shown resilience and innovation. Many are taking steps to prepare for post-Brexit challenges, such as manufacturing products in the UK to reduce reliance on external supply chains.

Factuality Level: 8
Factuality Justification: The article provides relevant information about the concerns of small UK retail businesses regarding Brexit based on a survey conducted by Vend using YouGov’s research sample. It includes quotes from industry professionals discussing their experiences and strategies to cope with the situation. While it does contain some subjective opinions, it is generally factual and informative.
Noise Level: 3
Noise Justification: The article provides relevant information about small UK retail businesses’ concerns regarding Brexit and their preparatory measures, but it lacks in-depth analysis or scientific rigor. It also contains some repetitive statements from different sources.
Financial Relevance: Yes
Financial Markets Impacted: Small UK retail businesses
Financial Rating Justification: The article discusses the impact of Brexit on small UK retail businesses and their concerns about its effects on global influence, supplier prices, and preparatory measures they are taking. This is relevant to financial topics as it involves business operations and decision-making in response to economic changes.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.

Reported publicly: www.retailsector.co.uk