Most firms 'not ready' for Brexit

Only a quarter of businesses are ready for the end of the Brexit transition period in December, according to research from the Institute of Directors. Almost half the directors polled said they were unable to prepare yet, with a third saying they needed clarity on rule changes and one in seven saying they were distracted by coronavirus. The majority said reaching a trade deal would be important for their businesses, and 89% felt it was important for the economy’s recovery. The institute has called for a phasing in of any changes, deal or no deal, to allow businesses time to adjust.