Three times more SMEs feel positive about new PM than negative
New Delhi, September 23, 2016: The latest Zurich SME Risk Index results show that many small businesses in the UK have had a tumultuous time since the EU Referendum on June 23rd as the UK voted to Brexit, despite only two in five SME owners and decision makers (43%) voting to leave the European Union (EU).
The survey of over 1,000 SMEs revealed that anxieties about leaving the EU persist. Less than 3 months on from the vote, almost a quarter of SMEs (22%) already feel that the devaluation of the pound has hindered their business, and over half (57%) are now primarily concerned about the effect of Britain’s official withdrawal from the EU on foreign currency and exchange rates. This anxiety may be due to the knock-on effect of a weak sterling on import and export conditions; the second greatest concern amongst SMEs post-referendum (46%).
International trade talks have grabbed the headlines in recent weeks, and this has been keenly felt in the SME community, with almost half stating that international trade risks, including sanctions and regulation, were a key concern for their businesses (44%).
SMEs have, however, shown confidence that Theresa May can deliver on the international stage, with more than three times as many business owners indicating that her appointment as Prime Minister will have a positive impact on the success of their business (25%) rather than a negative one (8%).
Statistics suggest that, above all else, SMEs crave certainty in the business environment, following the decision to Leave. If asked to vote in the EU Referendum again, slightly more SMEs would vote for a Remain decision now (55%) than before (54%), yet more than half of SMEs stated that they oppose calls for a second EU referendum, regardless (52%).
Corporate Comm India(CCI Newswire)
