Could the UK be Better Off Post-Brexit?

In what might become the most unpopular opinion of 2018, a new survey has suggested the UK could be a more attractive source of investment after Brexit. The referendum back in 2016 led to the departure of the UK from the European Union. Subsequent talks between Brussels and the UK have been mildly successful but with still no positive resolution. The ensuing uncertainty has left many businesses struggling to cope, with investment stunted and business confidence mediocre.

The survey of 300 business executives was conducted by law firm Stephenson Harwood. Eighty-eight per cent of respondents said the UK remains at least as attractive as it was in spring 2016, while 32 per cent said it is more attractive as an investment destination.

The top three reasons given for the UK remaining an attractive market were quality of technology and intellectual property and a skilled labour force. Business owners may baulk at this evaluation, particularly those who have been afflicted by the prolonged skills shortage. Construction and tech industries are suffering the most from the shortage, with job stability of EU workers still threatened by the uncertain environment. For those businesses who have the skilled workers and the technology to advance, this new survey will confirm what is already known.

The overall sentiment from the survey was positive, illustrating a more optimistic attitude towards business investment so far reported. Sixty per cent of executives expected to complete at least one UK deal in the next two years, while thirty per cent said they would consider a deal if the right opportunity came up.