A Huge Concern For 94% Of SMEs As Government Is Ignoring Them

A research by accountancy firm Moore Stephens, more than half of owner managed businesses of which many of them retailers negotiate on the key concerns on the Brexit outcome.

There are also other concerns skills shortages and cyber attacks came significantly below Brexit, with 41% and 29% citing it as their key concerns for 2018 respectively.

More specifically, 38% of SMEs said the introduction of trade tariffs after Brexit was their main concern. 30% cited loss of labour and 23% said afraid of losing European customers was their concern.

“Whilst banks and other big businesses have the influence to lobby the Government for their own special Brexit clauses, there are concerns that small businesses will be forgotten about,” Moore Stephens’ partner Mark Lamb said.

The huge concern for business owners about what Brexit might mean for them. While negotiating the exit deal the government must take their needs seriously.

There could be potentially impact on an enormous number of issues of Brexit affecting on owner managed businesses in the UK, import and export costs, to access to labour and grants and subsidies. Businesses have been given with no clarity so far on what effect Brexit might have on any of these issues.

“Businesses thrive on certainty – allowing them to invest, scale up, take on more orders and expand their workforces. It will be very difficult for businesses to invest in their growth, if the Government does not give them clear indications of what they can expect once the UK has left the European Union.