Risks and concerns facing OMBs

Domestic issues continue to dominate OMBs’ economic concerns, with the fall-out from Brexit negotiations and staff shortages being their main business worries.

Concern about the strength of the UK economy has increased dramatically, identified by 78% of OMBs (up from 68% last year) – but only 28% are anxious about the strength of the global economy (down from 43%). Ongoing uncertainty about Brexit is worrying many OMBs, resulting in a strong domestic focus.

When asked about their business concerns, the impact of Brexit negotiations on their business is the top issue for OMBs (identified by 51%), followed closely by the continued shortage of skilled staff (41%).

‘Red tape’ is a perennial challenge for OMBs. This year 27% express concern about regulation in their sector and 24% are worried about complying with the EU General Data Protection Regulation (GDPR), which is effective from May 2018 and has a significant impact on the collection, use and maintenance of personal data.

To download our full report and gain further insights into the risks and concerns facing OMBs in 2018, please click here.