Almost 4 in 10 UK SMEs want Brexit

According to the latest research from global research consultancy TNS, 37% of SMEs want Britain to leave the EU with as many as one in four still undecided about which way to vote, unclear about how it will affect them.

Related topics:  Commercial,  Commercial finance
Warren Lewis
7th June 2016
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Yet when asked to predict which way they expect the nation will vote on 23rd June, the majority of respondents (68%) said they expected people to stick with the status quo.  The data indicates economic stability and fear of change are the two biggest reasons why SMEs believe people will choose to remain.  
Meanwhile one in four businesses are undecided about which way to vote, with many still feeling uninformed about how it would impact their business.
 
The survey explored differences in personal and business perspectives, showing that many SMEs are allowing personal preferences to rule their decision-making.
 
Reasons to remain from a personal perspective included “cheap French wine” and “cheap holidays”, whilst “independence and return to British values” and “my heart tells me to leave” were cited as key reasons for choosing to leave.

There was evidence to show that SMEs did have their business in mind with “regaining control” cited as key reasons to leave, and with those wishing to remain wanting “no disruption in the wider economy” and “security and free trade”, however personal reasons were shown to be a strong influence.  
 
Meanwhile half of respondents were unable to give a clear business reason for both sides of the argument, demonstrating that people are heavily swayed by their own individual situations.

Amy Cashman, UK Managing Director of Financial Services & Technology at TNS, had this to say: “While some SME owners are backing Brexit, the high proportion of those predicting that the UK will remain in the EU, shows that fear of the unknown is likely to be a deciding factor on 23rd June.
 
The reasons given by SME owners for voting, on both sides of the debate, show that the Brexit debate is influenced by people’s passions and personal preferences. The notion of an independent Britain is tugging at the heartstrings of voters to leave the EU, despite uncertainty about what this really means for business.”

When asked about the best campaign team for Vote Leave, SMEs in favour of Brexit cited Richard Branson, Boris Johnson, The Queen, Alan Sugar and Nigel Farage as the best line-up to win over both hearts and minds. David Beckham and David Cameron alongside The Queen, Richard Branson and Alan Sugar were suggested as worthy campaigners for the ideal Remain team.

Amy Cashman concluded: “When asked to pull together an ideal campaign team, SME owners on both sides of the debate landed on the most established British figureheads. It’s interesting to see that the Queen, Richard Branson and Alan Sugar were cited as equally convincing candidates for both the Leave and Remain camps, highlighting that  politicians on both sides have been largely unconvincing so far, with no one yet delivering a knock-out blow.
 
There are also fewer politicians than we might expect at the top of the ideal campaign team list and more in the way of actors, entrepreneurs and singers, such as Adele, Emma Thompson and Stephen Fry. The Brexit question is increasingly becoming a personal one and people want to be convinced by someone they trust, respect and admire.”

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