Sunday, July 5, 2020

Brexit stockpiling affecting business cashflow, research finds

Almost quarter of employers claim that their employees have started stockpiling goods over Brexit concerns, according to new research.

Figures from premium finance company, Premium Credit, found that 4% of people expected their employer to begin stockpiling in the next few weeks.

The impacts of stockpiling can be far-reaching and include companies and people having less cash and relying more on credit to make purchases from clothes, stock to insurance.

The research reveals that 16% of people who work for employers that have been stockpiling claim it has had a “very negative” impact on their cashflow, with a further 58% saying it has had a “slightly negative” impact.

Two out of three (66%) say it has adversely affected their employer’s expansion plans; 60% say this about their plans for recruitment; 51% about promotions, and 64% claim to have lost out on pay rises because of it.

“There are a lot of concerns regarding a bad Brexit, and our research reveals the extent to which both businesses and individuals are stockpiling as a result of this,” said Adam Morghem, Strategy and Marketing Director at Premium Credit.

“The implications  are much wider than many may suspect. From creating cashflow problems, to under insurance of stockpiled goods to  curbing a business’ plans for expansion.

“Our findings also suggest that many people may also be missing out on promotions and pay rises as a result of Brexit related stockpiling.

“With cashflow being adversely affected, it puts pressure on businesses and individuals  to rely more on credit to buy the goods and services they need.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.




Latest news

University of Lincoln research predicts digital future for law firm

Students participating in the University of Lincoln’s Graduate Skills Builder programme have recently submitted a report following a market research project to a regional...

Four Yorkshire restaurants to close as Casual Dining Group enters administration

Casual Dining Group (CDG) the operator of restaurant brands including Las Iguanas, Bella Italia and Café Rouge, has appointed Clare Kennedy, Peter Saville, Daniel...

Forza Foods’ Normanton factory sees Coronavirus outbreak

Forza Foods’ Normanton site has seen an outbreak of COVID-19. As of Thursday 2 July, 17 members of the workforce have tested positive for Coronavirus. 300...

Work starts ready for £1.2m revamp and extension of craft centre

Preparations are underway for a £1.2 million project to reconfigure, extend and enhance the National Centre for Craft and Design in Sleaford. Lindum Group started...

Forrester Boyd acquires Hull accountancy practice

Independent Humber accountancy firm, Forrester Boyd, has acquired Hull-based accountancy practice Graybrowne. The acquisition is part of the firm’s ambition as it looks to evolve...

Sheffield rail tech company secures HS2 contract

3Square, a railway technology company based in Sheffield, has secured a major contract working on High Speed Two (HS2). The company is working with one...

Related news

University of Lincoln research predicts digital future for law firm

Students participating in the University of Lincoln’s Graduate Skills Builder programme have recently submitted a report following a market research project to a regional...

Four Yorkshire restaurants to close as Casual Dining Group enters administration

Casual Dining Group (CDG) the operator of restaurant brands including Las Iguanas, Bella Italia and Café Rouge, has appointed Clare Kennedy, Peter Saville, Daniel...

Forza Foods’ Normanton factory sees Coronavirus outbreak

Forza Foods’ Normanton site has seen an outbreak of COVID-19. As of Thursday 2 July, 17 members of the workforce have tested positive for Coronavirus. 300...

Work starts ready for £1.2m revamp and extension of craft centre

Preparations are underway for a £1.2 million project to reconfigure, extend and enhance the National Centre for Craft and Design in Sleaford. Lindum Group started...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close