What Brexit blues?
13 January 2020
New research reveals over a quarter of businesses in the engineering industry believe Brexit will have a long-term positive impact.
A new state-of-the-nation study into how businesses in the engineering industry are prepared for Brexit, has revealed a staggering 34% of businesses believe the process of exiting the EU is currently having a positive impact on their business, while 21% feel it hasn’t had any impact at all.
Commissioned by global sales, negotiation and communication experts, Huthwaite International, the report shows that post-Brexit business prospects remain positive, with 27% of businesses believing their growth potential will prosper post-Brexit, regardless of the outcome. However, concerns are high short term with 43% of businesses worried about the initial impact.
When looking at what worries businesses most about the UK leaving the European Union, economic stability, rise in prices and a no deal Brexit ranked as the highest concerns.
Improving negotiation skills also ranked as a priority amongst businesses before the Brexit deadline, with many sighting it to be a key priority when it came to safeguarding profits and reducing overheads.
Tony Hughes, CEO at Huthwaite International said: “Gaining the skillset and knowledge to survive this economic uncertainty is vital for business success. The UK is packed with ambitious and prosperous companies that in theory should flourish regardless of economic uncertainty, however the importance of obtaining the core skillsets to flourish shouldn’t be underestimated.
“One of the few certainties the UK faces is that, for selling organisations, things are getting tougher. As buying organisations entrench, delaying or even cancelling purchasing decisions, sales teams across all sectors and markets are having to up their game. This means sophisticated negotiation skills aren’t just important to ensure the UK secures a quality deal with the EU, but also form the fundamentals for ensuring business success across the UK too.”
Huthwaite International has published a white paper looking at five key elements businesses can implement to increase sales success in times of economy uncertainty. These include:
• Confidence through coaching
• Aligning capabilities
• Utilising your service resources
• Negotiation skills
• Effective qualification
To access the full research white paper, please visit: https://info.huthwaiteinternational.com/improving-corporate-negotiations.