A survey of almost 400 mid-market and fast growth businesses across the UK found 82% of companies polled believe that the UK’s decision to leave the EU will damage their prospects, while just one third (29%) believe that Brexit shockwaves will only impact them in the short term.

Despite the concern, almost half (46%) of management teams have put no measures in place to plan for how Brexit may impact their business or their people, although two thirds (65%) of businesses say they will continue to invest during the next two years.

With Article 50 yet to be triggered, the poll saw an almost unanimous call for the UK government to retain access to the single market as part of its negotiations and 90% of the firms surveyed want to retain tariff-free access to Europe for their goods and services.

Simon Michaels, managing partner, BDO, said: ‘The UK’s ambitious businesses rely on exports and international trade to thrive and achieve their high-growth targets, so it’s unsurprising they want to retain access to the single market to continue tariff-free trade with Europe.

‘Despite initial tremors, businesses remain hopeful following the vote for Brexit. However it is important that management teams put measures in place within their business to prepare for what a post-Brexit world could look like. Although we’ve got a wait on our hands before any changes could kick in, assessing the impact of leaving the EU should be on every boardroom agenda.’