With one year to go until Brexit, over half of UK real estate and construction businesses say they feel no clearer on the UK’s future with the EU, according to a new poll of mid-sized businesses published by accountancy and business advisory firm BDO LLP.
However, businesses are still taking action. Almost half (46%) of those surveyed have revised their business strategy in order to support the economic and political developments that may affect them as an outcome of Brexit.
In addition, despite the uncertainty, Brexit is not dampening investment plans. Just 14% of real estate and construction firms surveyed have put a pause on investment - a contrast to 29% of businesses across all sectors that have made the decision to halt investment for the time being.
When asked what government policies should be focused on to help the sector grow, half (49%) said simplifying tax will make doing business in the UK easier. Investment in smart physical and digital infrastructure should be the government’s priority, according to a third (34%) of those surveyed.
Lastly, the recruitment of skills into the sector appears to be less of an issue than in many others, with just 17% identifying this as the area that needs the most focus from government.