Theresa May’s deal, Norway plus, Canada plus, no-deal, a second referendum are just a handful of options which have been debated in parliament for what seems like an eternity, yet there is still no clear indication on which way the country will see a ‘true’ Brexit.
An EU extension until October 31st has given some much needed breathing space for UK politicians to get their heads together and ultimately ‘sort it out’. But what does the fenestration industry think?
As part of an Insight Data study, 77% of the top 500 companies in the fenestration industry responded that if a ‘no-deal’ Brexit occurred their business would prosper.
Jade Greenhow, Operations Director at Insight Data comments:
“Despite all of the warnings of how catastrophic a no-deal Brexit would be, the fenestration industry can see their businesses prospering. This shows how confident the industry is at this time of uncertainty and shows the industry just wants our politicians to get the job done!”
Despite the positive outlook on a no-deal Brexit, the fenestration industry holds a more reserved view on the confidence of the UK economy in the immediate aftermath of Brexit.
Jade Greenhow comments:
“Consumer confidence remains relatively low and increased frustration among the British public is eating into the reputation of the government and parliament as a whole.
“Although there is a lack of confidence in the UK economy, there is confidence within the fenestration industry. It is worth noting, UK unemployment remains low and a reasonably strong performance of the UK economy recently has increased interest rates from 0.25% to 0.5% in November 2017, and then to 0.75% in August 2018.
This makes borrowing money more expensive, but it gives savers who are the main consumer in the home improvement market more cash in their pockets to spend on their homes.”
Insight Data is the industry’s trusted provider of market intelligence and prospect data. Their online portal Salestracker holds detailed business information and contact details for businesses across fenestration, builders merchants, local builders, architecture, main contractors and housebuilders.
Whilst promoting products and services to the right companies is very important, keeping track of competitors, struggling companies and new emerging markets will give businesses a head start in this challenging political and economic climate.