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Small businesses press on in face of Brexit

13th October 2017

Almost three quarters of small businesses are pressing ahead with future plans for growth regardless of the UK’s decision to leave the EU, research has found. 

Retailer Amazon UK polled 1,031 senior decision-makers at small and medium-sized enterprises (SMEs) and found 73% have not delayed key business decisions following the Brexit vote. 

Only 42% of small businesses surveyed want Britain to remain inside the EU, indicating that most SMEs back the decision to leave the EU – although few agree on the terms of any Brexit deal. 

53% are in favour of a soft Brexit, which would retain access to the single market, while 56% want the government to prioritise a trade deal with the EU over any other nation. 

However, 39% of SMEs expect Brexit to have a more negative impact on revenue in the next 12 months.

More than half (51%) expect supply costs to be negatively affected, followed by profits (41%) and jobs (22%).

Emma Jones MBE, founder of Enterprise Nation, which co-commissioned the report and represents more than 70,000 small businesses in the UK, said: 

“Small business owners are generally positive, upbeat entrepreneurs who thrive in the face of a challenge and are flexible enough to adapt to changes in the political and regulatory landscape. 

“They shouldn’t be taken for granted so I hope the government looks closely at these views from the small business community and takes them into consideration throughout the Brexit process.”

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    icaew chartered accountants  acca