Over half of respondents to the Lumina Intelligence Top of Mind Business Leaders Survey, which covers the grocery, retail and hospitality sectors, named import and export administrative efforts, as well as supply chain difficulties as a result of Brexit as having the biggest impacts on business.
Staff shortages has been an impact felt more by hospitality leaders, applicable to almost two thirds (63%) of those surveyed.
Overwhelmingly (75%), UK food and drink leaders believe that the UK Government should be supporting businesses on overcoming Brexit challenges.
“Brexit, coupled with heavy restrictions on movement caused by the pandemic, has resulted in significant resource challenges for businesses across the UK food and drink industry," says Katie Prowse, senior insight manager at Lumina Intelligence.
"Business leaders want to see the government do more to support. Issues surrounding the UK’s departure from the EU including trade deals, processes around imports and exports and EU worker rights in the UK are all the remit of the UK Government and so it is vital that it plays a leading role in aiding, communicating and working alongside businesses through the transition.”
The pandemic also remains top of the mind of business leaders.
A large number of closures across the hospitality sector due to the pandemic, and 89% of surveyed hospitality business professionals agree or strongly agree that the next 12 months will see an increase in casualties among eating out brands.
Greater merger & acquisition activity is also expected in the eating out market, with 89% either agreeing or strongly agreeing that it is inevitable as the sector looks to recover from the impact of the pandemic.
Looking ahead, however, businesses are much more positive about future trading conditions.
You can download a free bitesize version of the Lumina Intelligence Top of Mind Business Leaders Survey here.