Scottish mid-market business leaders are split on what impact they expect Brexit to have on their businesses in the next six months.
Almost a quarter of do not expect it to have any impact, new research from business advisory firm Grant Thornton.
The research also suggests that 32% even predict Brexit will have a positive impact on their business.
With the rapidly approaching transition deadline and the continuing threat of no deal scenario, 52% of Scottish mid-market business leaders feel confident in their preparations for the upcoming changes in 2021, the research suggests.
For the next six months, mid-market business leaders are more immediately concerned about the negative impact of continuing COVID-19 related restrictions to trade and global travel, with 28% saying further lockdown restrictions would be bad for their business, versus 22% for Brexit.
However, with just days to go to the end of the transition period, a significant number of Scottish mid-market business leaders (40%) - do not feel confident that their business is ready for the upcoming changes.
A further 22% of respondents say they expect Brexit to have a negative impact on their business in the next six months, whilst a further 10% were unsure of the impact it will have at this stage.
The biggest Brexit related worry for mid-market business leaders is people-related concerns such as recruitment and mobility. This is followed by supply chain disruption and legal and regulatory changes.
Andrew Howie, partner and head of international at Grant Thornton UK, said: “There is a consensus in Scotland that a deal is preferable to a disorderly exit – and also perhaps relief that talk of breaking international law has subsided.
“Businesses are good at dealing with whatever is put in front of them and what’s really important now is getting information to the community about the new arrangements – whatever they are.
“The impacts will be felt in a wide range of ways, hitting different sectors, in different ways over different timeframes.
“We see from the data that the big definable problems, such as further restrictions in terms of workplace safety, travel restrictions, people productivity, and looming regulatory changes, are higher up the mid-market leader’s list of potential threats than Brexit," he added.
