THE MAJORITY of business leaders fear the impact of the coronavirus pandemic will be magnified by a no-deal Brexit as companies were urged to step up preparations for the UK’s imminent departure from the European Union.

A survey of nearly 1,000 bosses by the Institute of Directors, carried out between September 11 and 30, found 54 per cent said the effects of the Covid crisis will be exacerbated by no deal. Less than one in 10 said the reverse.

Malcolm Cannon of IoD Scotland said: “Business leaders are facing myriad challenges at the moment, with many just aiming to survive the current climate. However, it is vital that leaders start to prioritise Brexit preparations.”