A quarter of businesses in the South West and Wales are concerned about the potential impact of Brexit on their supply chain, according to research by R3.
The insolvency and restructuring trade body found 22 per cent of respondents had looked at how exiting the EU might affect their supply chain and are “somewhat concerned” while a further 4 per cent listed themselves as “very concerned”.
R3’s Philip Winterborne, a partner at Temple Bright solicitors, said: “It’s a serious worry that so many regional businesses may feel exposed to a supply chain risk as a result of Brexit.
“A key part of preparing for Brexit is looking at how it affects your suppliers and customers. It’s all very well making sure your own business is ready to adapt, but these plans might not help if the businesses you depend on – customers and suppliers – are unprepared.”
However, the report also found almost 40 per cent of respondents were reassured following a review of potential Brexit impacts.
Winterborne said the figure is “encouraging”.