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81% of small businesses wary of Brexit

A new independent survey released today by Smith and Williamson shows that 81% of small businesses think a vote to leave would negatively affect their business – 13% more than in June last year (Source: City AM, 3 May 2016, link).

“When we first sought business owners’ thoughts on Brexit, the Conservative Party had just been elected and a potential Brexit felt quite remote,” said Guy Rigby, head of entrepreneurial services at Smith & Williamson.

“However, as we approach the referendum date, business leaders are seemingly more apprehensive about the prospect of leaving the EU.”

Small businesses benefit greatly from trade, funding and investment that comes from being in the EU.

Many small businesses are part of supply chains of larger businesses who trade with Europe.

Over 200,000 businesses trade with the EU’s single market of 500 million, and our continued membership of it is vital for businesses.

Leaving is too big a risk to take. Increased barriers to trade and would mean fewer jobs, less trade, and less investment.