CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Over a quarter of small businesses say Brexit would increase costs of recruitment
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Over a quarter of small businesses say Brexit would increase costs of recruitment PDF Print E-mail
Tuesday, 31 May 2016
According to the latest Owner Managed Business (OMB) Barometer from Bank of Cyprus UK, over a quarter (27%) of OMBs have stated that Brexit would negatively impact their ability to hire. Specifically, one in seven (14%) OMBs think the cost of recruiting the right workers would increase, while one in eight (13%) say Brexit would increase the cost of hiring low skilled workers.

In addition to cost increases, a quarter (25%) of OMBs said they had suffered uncertainty as a result of the referendum and were delaying business decisions because of this.

Despite this, four in ten OMBs (42%) said that a possible Brexit outcome would have little or no impact on business decisions, while six in ten (58%) said the result of the EU referendum would make no difference to their recruitment policies. In fact, one in five (19%) OMBs see Brexit as a potential to reduce red tape. One in ten (10%) OMBs believe this reduction in red tape would increase their ability to hire a greater number of staff, while a similar number (9%) say it would enable them to hire more skilled staff.

When it comes down to a Remain or Leave opinion, OMBs are evenly split with 37% saying they oppose or strongly oppose a UK exit from the European Union and 37% supporting or strongly supporting a UK exit from the European Union.

Commenting on the research findings, Lakis Kasapis, Head of Banking at Bank of Cyprus UK said: “We work with thousands of Owner Managed Businesses (OMBs); many already face challenges hiring the right workers to meet their business needs and Brexit is adding to this. It is worrying that over a quarter of OMBs think recruitment costs will be negatively impacted in the event of a Vote Leave outcome in the EU referendum.

“Equally worrying is the fact that OMB’s uncertainty in the run up to the referendum is causing them to delay decisions, and the impact this may be having on their business. OMBs need to plan for both eventualities and the resulting effect on their business now so that they can move forward with decision making as soon as the outcome is known.”
 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197