Which are the top 10 business sectors most affected by Brexit this year?

Which are the top 10 business sectors most affected by Brexit this year?

1. Financial Services: London, being a major financial hub, is expected to face significant impacts on its banking and finance sectors due to reduced access to the European Union (EU) market.

2. Automotive: The UK’s automotive sector is deeply integrated with the EU, and Brexit has raised concerns regarding potential trade barriers and increased costs.

3. Aerospace: The aerospace industry relies heavily on European supply chains and collaboration, making it vulnerable to disruptions caused by Brexit.

4. Pharmaceuticals: With the UK leaving the EU regulatory framework, the pharmaceutical sector is apprehensive about the impact on drug approvals, access to markets, and research collaborations.

5. Retail: Retailers, especially those with complex supply chains involving EU countries, are likely to face disruptions due to increased customs checks and potential tariffs.

6. Manufacturing: Many manufacturing businesses are closely linked to EU supply chains, and Brexit-related uncertainties have led to concerns about reduced access to a large market and potential trade barriers.

7. Hospitality and Tourism: Changes in travel regulations, visa requirements, and the potential decline in foreign visitor numbers have the hospitality and tourism sector on high alert.

8. Tech and Digital Services: The tech sector relies on global talent and European collaborations, and Brexit could potentially impact access to skilled workers and hinder innovation.

9. Agriculture and Fisheries: These sectors heavily depend on EU markets and common policies, and Brexit poses challenges in terms of market access, subsidies, and trade agreements.

10. Education: Higher education institutions are concerned about potential impacts on research collaborations, student mobility, and access to EU funds for academic projects.

It is important to note that the effects of Brexit can vary across different businesses within each sector. Moreover, this list reflects the expected impact of Brexit in 2021, and the situation may evolve as negotiations and agreements progress.

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