Chin up and look on the Brexit bright side: The UK's more prepared for change than ever before

 
Lynsey Barber
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Times they are a changin... but the UK's well prepared (Source: Getty)

They say no one likes change, but not the UK, it turns out: the country as a whole is one of the most prepared in the world for change according to new research.

And it's all thanks to our entrepreneurship and openness to technology.

The country ranked 10th in KPMG's Global Change Readiness Index, ahead of some other significant global powers such as the US, France and Hong Kong. And it gained ground on last year's 13th place.

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That's prompted some chin up type advice in the light of Brexit, which some see as turning back the clock and casting a shadow over the future.

“As the UK gets to grips with Brexit, some business leaders have become deeply pessimistic, seeing only the potential jeopardy and upheaval that lies ahead," said KPMG's head of Brexit Karen Briggs.

"Of course, the risks of Brexit are manifold and very, very real. Indeed many require attention with the greatest sense of urgency. But this study offers a more rounded perspective. It reminds us not to lose sight of the UK’s potent global strengths."

The country ranked second of the 136 analysed when it comes to entrepreneurship and use of technology. It was also high up for economic openness (5th), business environment, financial sector and regulatory environment (6th).

The report, which takes into account 30 indicators, noted an improvement in the UK's ranking for government fiscal and budgeting since the last study in 2015 having made progress on the fiscal balance since the recession. But the UK still ranked low on this indicator, as it did in terms of security, demographic profile and economic diversification.

“More than ever, a country’s welfare depends on the ability to cope with and take advantage of change," said global chair of international assistance practice at KPMG, Timothy Stiles

"This study is an eye-opening view of which countries are best positioned to weather inevitable change, and the factors behind their preparedness.”

Rank in 2017 Country Change in rank since 2015
1 Switzerland +1
2 Sweden +7
3 United Arab Emirates +2
4 Singapore -3
5 Denmark +3
6 New Zealand 0
7 Netherlands +4
8 Finland +2
9 Germany +3
10 United Kingdom +3
11 Norway +7
12 United States +8
13 Hong Kong -10
14 Australia +2
15 Ireland new
16 Austria 2
17 Canada -3
18 Belgium +1
19 Qatar -11
20 France +7

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