- Over half of respondents exposed to Middle East conflict, ICAEW survey finds
- Higher energy costs and supply chain disruption key business concerns
- Government support with energy bills would help most, firms say
More than half of accountants polled in both the UK and the regions most affected believe their business or organisation is vulnerable to the conflict in the Middle East, amid the threat of surging energy costs and supply chain disruption, a new survey by chartered accountancy body ICAEW has found.
The data, published today, revealed that 56% of nearly 500 ICAEW members (businesses and individuals) polled said they were exposed to the current conflict, while over a quarter (29%) think it’s too early to judge.
In response, 56% said they are monitoring the situation, a quarter (25%) are changing their travel policies or staff security guidance and 13% said they planned to temporarily alter or halt operations in the regions most directly impacted.
For UK businesses specifically, those polled said higher energy costs (66%), supply chain disruption (54%) and staff related challenges around security and travel (46%) were the most prominent challenges.
In the event of prolonged conflict, 48% of UK businesses said support with energy bills would be the most useful thing the government could do to help, followed by infrastructure for supply chain resilience (40%) and financial support such as ensuring credit availability (32%).
Alan Vallance, ICAEW Chief Executive, said:
“Our data shows that rising energy costs and supply chain disruption are the biggest threats to businesses right now as the conflict in the Middle East continues to escalate.
“Surging gas prices and interruptions to major energy infrastructure, such as the Strait of Hormuz, means the pressure is only intensifying.
“The findings also highlight the significant interdependence of UK businesses and citizens with the Middle East, and how our economic fate is exposed to instability in the region.
“If the war is prolonged, the UK government should stand ready to provide the liquidity and financing British businesses in the Middle East need to weather the storm.
“We’re grateful to our members who have shared with us their views on the business impact of the conflict at this difficult time.”
ENDS
Notes to editors:
497 Chartered Accountants based in the UK, Middle East, South Asia, Cyprus and Turkey responded to an online survey between 6 and 9 March 2026.
Contact ICAEW media office:
About ICAEW
Chartered accountants are talented, ethical and committed professionals. ICAEW represents more than 210,000 members and students around the world. 98 of the top 100 global brands employ ICAEW Chartered Accountants.* 87% of FTSE 100 companies, and 81% of FTSE 250 companies in the UK, have an ICAEW member on their board.
Founded in 1880, ICAEW has a long history of serving the public interest and we continue to work with governments, regulators and business leaders globally. And, as a world-leading improvement regulator, we supervise and monitor around 11,000 firms, holding them, and all ICAEW members and students, to the highest standards of professional competency and conduct.
We promote inclusivity, diversity and fairness and we give talented professionals the skills and values they need to build resilient businesses, economies and societies, while ensuring our planet’s resources are managed sustainably.
ICAEW is working towards becoming net zero, demonstrating our commitment to tackle climate change and supporting the UN Sustainable Development Goal 13.
ICAEW is a founding member of Chartered Accountants Worldwide (CAW), a global family that connects over 1.8m chartered accountants and students in more than 190 countries. Together, we support, develop and promote the role of chartered accountants as trusted business leaders, difference makers and advisers.
We believe that chartered accountancy can be a force for positive change. By sharing our insight, expertise and understanding we can help to create sustainable economies and a better future for all.
* includes parent companies. Source: ICAEW member data March 2025, Interbrand, Best Global Brands 2024.
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