What Brexit? Small businesses yet to see impact of referendum vote

40% of smaller enterprises are expecting increased trade in the coming months

73% of UK small enterprises have said they've felt no impact from June’s EU referendum, insisting it's ‘business as usual’ – according to a report by Close Brothers.

The Close Brothers Business Barometer, which surveyed 900 small businesses, revealed that just 24 % of respondents said they had delayed an investment decision because of Brexit, with just 26 % noticing any increase in anxiety amongst staff with regards job security.

When looking to the future, 44% of those surveyed anticipate they may lose business as a consequence of the UK leaving the EU, while 40% actually believe the opposite.

Of those who have already suffered a downturn in trade, 34 % said the main factor was customers spending less, followed by decreased access to finance (30 %) and skilled workers leaving their company (26 %).

David Thomson, CEO of Close Brothers Invoice Finance and Rentals, said:

“It’s clear that despite the pre-referendum warnings, there has not been any calamitous impact on small businesses from the UK’s vote to leave.

“However, small businesses are not complacent and are acutely conscious of the need to monitor both threats and opportunities that may yet come from Brexit.”


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