“Business leaders and entrepreneurs are clearly concerned about some of the implications of Brexit, but like me they remain positive about Britain as a place to do business,” Stephen Welton, chief executive of BGF said in the latest survey issued by the funding body, that showed smaller firms are concerned over the implications of the decision to leave the EU.
The survey also revealed that 54% of those responding maintained access to the single market was the most important aspect of any post-Brexit negotiation. Ajay Sule, practice director EIA at Frost & Sullivan, said that “not being a part of the digital single market could result in further isolation and deprive the UK of the benefits of cross border online trade and e-commerce.”
Alongside concerns from the tech sector, businesses with international exposure are also concerned. “Although a trading deal with the EU is likely, there is a lot of ignorance about the benefits the single market brings small businesses,” Simon Cowie, chairman of international shipping firm Mail Boxes Etc said.
‘Fundamentals remain attractive’
“The fundamentals that make the UK so attractive to growing businesses have not disappeared, and businesses will continue to contribute to the economy and create jobs,” said Welton. “The BGF is committed to continuing to invest in the UK’s most ambitious small and mid-sized businesses,” he added, referring to the fact that three in four business owners still strongly believe that the UK is a great place to start and grow a business. Based on this confidence, only 41 per cent of the respondents postponed key business decisions over the campaign period.
Welton also said the business community were badly in need of clarity from politicians. “It is vital that business continues to make its voice heard to ensure that its priorities are high on the next Government’s agenda. Most importantly, we should aim to ensure that Britain remains a pro-enterprise country and that businesses retain the best possible access to the single market,” he added.