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Should British SME’s be Concerned About Brexit?

By Jon Sawyer on 05/03/2016 - 1 Comments

Should British SME’s be Concerned About Brexit?

Campaigning has started in earnest with both sides now in full swing to try and get the electorate on their side for the June referendum. On the campaign to stay bosses at more than a third of the companies in the FTSE 100 have signed a letter declaring that Britain is better in the European Union, saying a Brexit would threaten investment in the UK and lead to potential job losses. A number of smaller company bosses have also endorsed the ‘stay in’ campaign.

Richard Reed, founder of the Innocent drinks company, has made grave warnings about the “insane” amount of red tape that would engulf small businesses if Britain left Europe. This is one of the most difficult issues facing the British electorate for decades. What are the arguments on both sides of the fence and how could this effect British SME’s?

LDF (27/5/16) summarised the pros and cons for Brexit as follows:

Pros

Cons

Where do British SME’s Currently Stand?
British SMEs are overwhelmingly opposed to a possible Brexit, two recent polls have shown. Two polls for the Mail on Sunday newspaper and City AM carried out 48 hours apart from one another found overwhelming support among UK small businesses for Britain's membership of the EU – and rock bottom support for leaving.
The Enterprise Nation survey for the Mail on Sunday found more than 60% of its members thought membership of the EU is beneficial. Separately, the Moore Stephens poll for City AM today found that owner-managed small UK businesses support Britain remaining in the EU by 60% to 17%.

Are SME’s really bothered?
“Currency union or membership of the European Union are not the issues which keep our members awake at night” has suggested Colin Borland, the Scotland head of external affairs for the Federation of Small Businesses in the past, arguing that “they are much more worried about bread-and-butter issues, and keeping their heads above water.”

Running an SME present many challenges and many may not have the time or inclination to consider whether it is better to be in or out. However, it is clear that some investment decisions will be on hold until the decision is known.

One thing for certain, is that there are going to be plenty of strong opinions in the run up to the June vote.

What do you believe are the key issues for your business when it comes to a potential Brexit? We’d love to know your opinion, so tell us in the comments section below.

There are 1 comments for this entry. Leave your comment below >>

chris - March/09/2016

We do not have exact financial figures of what we actually contribute to the EU. And we have no real figures of the amount we receive back financially from the EU. No business would spend more on a project than they would gain from the project.  Daft though it may appear this is appears to be the current situation.



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