Is your SME for or against a second referendum on Brexit?

posted by 3 years ago in News

More than half of Britain’s SMEs are in favour of a second EU referendum on Brexit with negotiations close to a conclusion.

As the deadline for Brexit approaches in less than a year’s time, over a half of businesses are calling for a second referendum and whether Britain should take the deals offered by the government. With an ever-growing level of uncertainty expressed by the delayed Brexit negotiations amongst the UK and EU, the most recent confidence index conducted by Citibase has revealed that 61% of UK want to undo the Brexit process.

The survey which was sent out to 1,059 SME business owners found that the level of confidence they have has pushed them to evaluate their office needs – 72% have admitted they are looking for offices with leases of less than 3 years which is compared to the 57% during quarter one 2017.

Research also found that 23% trust that Brexit is causing a negative impact on their revenue figures in fact, 33% are planning in preparation for when Brexit comes into full force.

CEO of Citibase, Steve Jude comments;

“The heady combination of stalling Brexit talks, unrest in the government and the suggestion that Britain may be prepared to walk away with no deal at all is causing unrest amongst SMEs.

“As a result, we are seeing a significant shift towards flexibility and agility, with nearly three quarters of entrepreneurs, startups and small businesses now shunning longer term, traditional office leases in favour of shorter terms.”

The survey also highlighted that the trust SMEs have in the government to get the best Brexit deal is falling. Just 33% of those who responded have faith in the government and their negotiating skills.

Head of, Philip Brennan also comments;

“The uncertainty caused by Brexit has shown little positives thus far, so will a second referendum cause even more doubt? Currently, many business owners I have spoken to are hoping that at best everything stays the same. If this ends up being the case, it does create a big question of what is the point of Brexit? It feels very unlikely that this will happen as no party is pushing for a second referendum at present. Hopefully we will get some clarity soon of what we are agreeing to and this will help ease the minds of business owners and their concerns.“