A new survey of mid-sized Yorkshire firms conducted by BDO shows that almost half of them consider a further wave of the COVID-19 virus to be the main threat to their business.
The latest Rethinking the Economy poll spoke to 500 firms, and the results show that 47% of Yorkshire companies consider another wave of the virus to be more of a danger to their survival than a potential no-deal Brexit, despite the latter looming in the New Year.
Just 29% of the firms that took part in the survey indicated that they considered the UK leaving the EU with no deal to be more of a threat to the country’s economic health than the pandemic, and this was the same for firms in all parts of the country.
However, although mid-sized firms in Yorkshire clearly have worries about a winter COVID-19 spike, the poll also found that they are optimistic about the future. 90% of those surveyed told BDO that they expected the regional ‘level up’ agenda of the government to move forward regardless of Brexit and the virus.
Terry Jones from BDO Yorkshire said that the lack of detailed information about what no-deal Brexit could mean in economic terms was the reason it was not the main focus for firms in the region. Contacting professional accountants in South Yorkshire is one way in which business owners can get more information about the issue and make preparations for the uncertain future.