Commercial News

Half of SMEs already experiencing negative impacts of Brexit

Rozi Jones -
|
17th October 2019
Brexit 2
"We hope this research will help MPs realise what impact Brexit is currently having on the small business economy"

50% of UK small businesses are already experiencing the negative impacts of Brexit, with 80% worried for their business’s futures, according to a survey by instantprint.

The research found that business owners are facing unprecedented levels of uncertainty, with only 1 in 5 businesses professing to feeling prepared for a 31st October withdrawal.

Business growth has also been halted with 79% of respondents claiming to have seen sales slowing.

When asked whether they’d prefer a no-deal Brexit or cancel it all together, over a third of small business owners said they would like to see it cancelled.

Regionally, businesses in the south feel less prepared (32%) than their northern counterparts (24%). However, both northern and southern businesses are in agreement that their businesses will be worse off following a no-deal Brexit (69% and 63% respectively).
Sole traders are hit the hardest with 72% feeling ill-prepared for the impact of leaving the EU.

Jon Constantine-Smith, head of instantprint, said: "This research goes to show how divided the country remains over Brexit but also how it is already starting to impact small businesses.

“With less than four weeks to go before the expected leave deadline it is clear small businesses have very little clarity over what they need to do to prepare for Brexit. We hope this research will help MPs realise what impact Brexit is currently having on the small business economy and will make sure they provide the necessary support that small businesses need to ensure disruption is minimised."
 

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