Four out of five brokers undeterred by Brexit
Four out of five brokers (81%) are pursuing their business plans regardless of what happens with Brexit, United Trust Bank’s (UTB) Broker Sentiment Survey has found.
The survey of 130 brokers from the fields of property and asset finance asked respondents to indicate approximately what percentage of their customers they thought were being affected by Brexit uncertainty.
The survey revealed that 9% of brokers are putting plans on hold until the nature of Brexit becomes clearer, whilst a further 8% are pursuing a more conservative plan due to political uncertainty.
Harley Kagan, group managing director at United Trust Bank, said: “At UTB we’ve always taken the view that whilst it’s important to keep a close eye on the political and economic landscapes, we wouldn’t allow Brexit uncertainty to divert us from our own plans.
“It is encouraging therefore to see that most brokers have adopted the same stance.”
Just 2% of brokers are implementing more aggressive growth plans according to the survey.
One in four brokers said that their customers were not being affected by Brexit but nearly half (47%) felt that around a quarter of their customers were delaying plans or scaling back due to Brexit uncertainty.
Kagan added: “With still so much to be agreed in the next few months, businesses remain cautious.
“We have seen excellent levels of new business enquiries throughout the first four months of this year and we continue to help SMEs across the UK seize opportunities and invest in their futures.”