Small Businesses Increase Insurance As Brexit Looms
Law360, London (January 16, 2020, 6:42 PM GMT) -- One in three small and midsized businesses in Britain have increased their stockpiles in preparation for Brexit, research published Thursday has found.
A study by Premium Credit, a finance company, found that 34% of small and midsized businesses expect they will need to increase the amount and value of the goods they have stockpiled to prepare for Britain’s exit from the European Union, due to take place on Jan. 31.
The increase in stockpiling will also affect borrowing and cash flow, the study found.
Some 58% of businesses have increased their borrowing to prepare for Britain’s departure. Nearly one in 10 companies...
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