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In the news

29% of small businesses expect Brexit to have a negative effect

By April 12, 2019 No Comments
UK and EU flags

We’re 14 days past the original Brexit deadline of 29th March, and yet we’re still in the European Union. Parliament has rejected Theresa May’s deal three times, and a six-month extension has been granted by the EU.

The continuing uncertainty over the terms of our exit from the EU are clearly having an effect on Britain’s 5.7 million SMEs.

SME confidence around Brexit - 29%

According to a survey carried out last autumn by the British Business Bank, 29% of smaller business owners believe Brexit will affect their business negatively – this is up from 22% in 2017.

The survey also found that 34% think Brexit will make it harder for them to access business finance in the future.

Of course, while more businesses are concerned about the effects of our departure from the EU, a majority still don’t foresee any impact at all (56%).

When it comes to making preparations, the survey found that under a fifth (17%) had made changes to their business already, with one in four (27%) saying they were planning to make changes in the future.

We briefly touched on the ways Brexit might affect your business in January, with a few tips on what to look out for.

And further back than that, we published an infographic showing what small business owners thought about Brexit in the run-up to the 2016 referendum.

The results of our survey showed that 44% of small business owners thought we should vote to leave, 41% thought we should remain, and 15% were undecided.

What’s your opinion?

We want to hear from you! What kind of effect to you think Brexit will have on your business? Has the uncertainty already had an impact? And have you made changes to prepare your business for a post-EU Britain?

You can let us know on Twitter, LinkedIn or Facebook.

Dom Stapleton

Dom joined our marketing team last year. He has over 10 years of experience in SEO and social media, and also runs a (very) small business in his free time.

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Dom Stapleton

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