At Office Experts, we believe it is crucial to understand the impact Brexit will have in our Industry. We surveyed a select group of Industry Thought Leaders on the effect Brexit may have on their business in 2018.
A variety of Industry Sectors took part in our Market Confidence Survey. Of all the responders nearly half (45%) came from the Finance Industry. The Legal and the Recruitment Industry represented 15% each, and the remaining population surveyed represented all other Industries combined (25%).
Our aim was to gauge the level of optimism amongst Industry Thought Leaders regarding the state of the economy Post-Brexit. Survey analysis indicated that the majority of respondents (30%) were neutral about the future state of the economy. As regards economic pessimism, 45% of Industry Thought Leaders were pessimistic/very pessimistic. Whereas 25% of respondents were optimistic/very optimistic. So, it appears the majority opinion is a rather bleak economic outlook Post-Brexit.
Optimism in Industry Growth
As regards the level of optimism relating to Industry growth, 45% of responders had a neutral outlook. The more optimistic respondents came to 30% (optimistic and very optimistic combined). Those Thought Leaders with a gloomy outlook amounted to 25% of the survey population (pessimistic & very pessimistic combined). As regards Industry Leaders feeling they had the ability to plan for Brexit, 35% felt they were very able to plan for it and the same proportion felt they were very unable to plan for it. The remaining population of 10% each felt they were not at all able to plan, somewhat able to plan or didn’t know. Hence, opinion appears to be equally divided as regards planning for Brexit.
40% of those surveyed said Brexit will enable business growth & for 35% it will increase flexibility
Emerging business reaction towards Brexit is relatively positive, with 40% of Thought Leaders feeling that Brexit will enable business growth and 35% feeling it will enable increased flexibility. Neutral growth is the outlook of 20% of responders, with 5% thinking that Brexit will reduce their business overheads.
As regards working environment, the most popular view (75%) is that the EU Referendum will have no impact on their approach to Office Provision. However, 25% of those surveyed said that flexibility in the size of office and length of tenure are important considerations for their next Office.
25% said office flexibility is an important Post-Brexit consideration
As regards the types of office spaces that Industry Leaders would be selecting for their businesses, the analysis demonstrates that there is an even split between leased and serviced (45% each) with 10 % of respondents of the opinion that they would be Owner Occupiers.
In summary, there appears to be an even mix of pessimism and optimism as regards the impacts of Brexit to businesses. But whatever your opinion, Office Experts have the specialist knowledge, contacts and a great level of service to provide Businesses with the right working space to suit their business needs, whatever the impacts of Brexit.
See our Market Survey Infographic below: