One in three UK small firms believe pound will be gone within 20 years
66% believe government isn't doing enough for small firms
A third of Britain’s small businesses believe the pound will be replaced over the next two decades, according to new research from Moneycorp.
The research, carried out in tandem with Crimson Business, also found that over two-thirds of UK entrepreneurs have yet to see any rise in export activity, following the weakening of Sterling. Furthermore, 66% of respondents said the government isn’t doing enough to support small to medium-sized firms, while 26% of respondents said they don’t think the pound will strengthen in the foreseeable future. Chris Redfern, currency dealer at Moneycorp, said: “Though small businesses have been pinpointed by the government as the lifeblood of the UK economic recuperation, few of them are actually benefiting from the policies put in place. “Their fears have not been allayed by promises of an export-led recovery and a third of them are uncertain about the future of the pound. The result is a confusing situation which is impacting their operations overseas.”