Over three-quarters of small businesses in the UK feel unsupported ahead of Brexit, according to a new report.
A survey carried out by Simply Business uncovered that 76% of the 1,200 small business owners they asked feel like they lack the support they need in the run-up to the UK leaving the European Union, whilst 20% said they didn’t know where to turn for help and advice.
The survey also found that 35% of SME leaders have decided to delay growth plans, although this figure also highlights the majority of firms which are pressing on with expansion plans.
COO at Simply Business, Bae Montoya commented of the results that: “There isn’t a blueprint for what happens after Brexit, which is particularly challenging for the UK’s 5.7m hardworking SMEs.
“The self-employed are the backbone of the British economy, and they deserve more support and guidance – after all, it’s they who employ the majority of the UK workforce.
“A workforce which, according to our survey, is potentially at risk. Surely the government can clarify guidelines for what steps SMEs should take?”
Why it’s critical SMEs get the right Brexit support
Uk small businesses are the powerhouse of the UK economy, employing 16.3m people or 60% of private sector workers – in work. And whilst British stalwarts may get the headlines, small and medium-sized firms account for 99% of all UK businesses according to the Federation of Small Businesses.
And that’s why it’s critical small firms are as supported as possible when it comes how Brexit may affect their businesses, how to prepare and what to focus potentially limited resources on in the run-up to Brexit day.
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Yet whilst it’s clear the pivotal role that small and medium-sized companies play in the UK economy, these firms are the most likely to lack the internal expertise and resource to effectively plan for and strategise against Brexit uncertainty now and any disruption in the future.
This is one of the reasons why Go Exporting launched our Brexit Consultancy, a cost-effective audit of business readiness for all eventualities of Brexit.
Go Exporting can help you navigate the Brexit minefield. Contact us today to arrange a review of the potential impact on your business.