The impact of Brexit has been felt not only in the UK, but also in Europe and beyond. Now, a landmark piece of research has revealed what the ripple effect of the momentous vote looks like. And it appears that German businesses are most confident about navigating the aftermath: 73% of say their national economy is performing well, according to a new global business study, while SMEs in Hong Kong are the least confident about local and global economies
The research comes from Bibby Financial Services and it shows a varied sentiment of global SMEs in areas such as investment, confidence, challenges and opportunities, overseas trade and payment terms.
Germany and Ireland lead the way
“Germany is often seen as the industrial beating heart of Europe,” says Steve Box, International CEO of Bibby Financial Services. “Our research underlines the confidence of the small businesses in Europe’s largest economy as the EU looks to agree its shape post-Brexit.
German confidence is mirrored in Ireland: More than two thirds (67%) of Irish SMEs are confident about the local economy. German and Irish SMEs are also most confident about the future with 57% of SMEs in both markets expecting sales to grow in the year ahead.