UK start-ups with over £100,000 turnover favour Brexit

Exclusive poll by Startups.co.uk has found that higher revenue start-ups with over two year’s trading are more inclined to vote leave  

Businesses with revenue in excess of £100,000 are more inclined to vote leave in the EU referendum next month, exclusive research published today by Startups.co.uk has indicated.

Polling 1,487 of its readers from February 29 to May 2 2016, the UK’s leading independent online business resource found that, overall, 55% of the country’s start-ups intend to vote for the UK to stay in the EU.

However, it is early-stage businesses and those yet to commence trading that are more in favour of staying than their more established counterparts when the referendum takes place on June 23.

Of businesses with turnover of over £100,000, 49.7% said they wanted Britain to exit the EU (Brexit) – almost a 10% increase on the number of businesses with revenues of less than £100,000 that said they would vote for a Brexit (40.3%).

Similarly, Startups.co.uk found that the greater the length of trading history of a business, the lower the likelihood is of them wanting to stay in the EU.

Only 37% of start-ups that hadn’t yet begun trading said they would opt for a Brexit, with this figure rising to 40% among start-ups that had been trading for less than two years. However, businesses trading for more than two years were found to be more in favour of a Brexit with 49% having said they would vote to leave.

Start-ups and small businesses in London are most in favour of staying in the EU, polling at 67% to stay, while businesses in the South West and Wales are most in favour of leaving the EU with businesses in each region polling 51% to leave.

Startups.co.uk’s Jonathan Young, who conducted the research, commented: “While the majority of our start-up and small business readers want the UK to remain a member of the EU, it’s interesting to see that more established businesses are less concerned by the possible risks of a Brexit.

“With just over two months until the referendum, businesses have a big decision on their hands and really need to consider the pros and cons of leaving the EU and the effect it could have on their growth-potential.”

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