Despite Discontent, Two-Thirds of UK Business Leaders Agree That Brexit is a 'Genuine Opportunity to Innovate and Reshape Relationships With the World'

LONDON, June 30, 2016 /PRNewswire/ --

62 per cent of UK business leaders say that the result of last week's European Union (EU) Referendum is an opportunity for the United Kingdom to innovate and reshape its relationship with the world, according to a survey compiled by Harvey Nash, the global professional and executive recruitment group.

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However, in the survey of almost five hundred board level directors, 74 per cent of UK business leaders say they are discontented with the result of last week's Referendum, and 71 per cent voted to remain in the EU.

The survey reveals that whilst there is widespread dissatisfaction with the result, business leaders are beginning to consider and plan for the long-term implications. When asked about how Brexit will affect their business' profit in five years, there was less negativity: one quarter (27 per cent) thought their profit would increase, one in three (29 per cent) thought it would be unaffected, and 43 per cent felt their profit would decrease. The majority of respondents thought the UK would be successful at negotiating a reasonable trade deal with the EU (57 per cent) and 71 per cent felt the same for trade deals with the rest of the world. Respondents were much less positive about two of the key promises of the Brexit campaign: 69 per cent believe immigration will not reduce and 74 per cent believe the money saved from EU membership fees will not be spent wisely.

Respondents are expecting a bumpy ride in the short term, with 64 per cent expecting a decrease in profits in the first year and 62 per cent expecting a decrease in the next one to five years.  Nearly a quarter (24 per cent) are expecting a temporary recruitment freeze in some places, and a further 15 per cent expect this across all of the business.

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