A Third of Small Firms are Worried that an EU referendum will Impact Business Recovery

Small and medium enterprises are anxious that an EU referendum will damage relationships with overseas customers and investors

The latest Close Brother Business Barometer (CBBB) revealed disparity among small and mid-sized firms’ attitudes towards a potential European Union (EU) referendum; with 42% believing it won’t have any effect whilst 33% are anxious that it will and 24% remain undecided.

Of the businesses that are concerned, 46% are worried that it will cause delays among inward investment and an additional 23% are anxious that it will negatively impact their European market connections.

The CBBB is conducted by finance company Close Brothers Invoice Finance (CBIF) and is a quarterly survey of over 700 business owners to demonstrate small and medium enterprises’ attitudes and issues.

CEO of CBIF David Thomson commented on the research and explained why worried firms need to focus on the present:

“It appears that UK firms are split over the prospect of an EU referendum.

“It is understandable that some firms are feeling anxious about the prospect, however, it is important to keep in mind that this potential referendum is still more than two years away and in the meantime we must continue to focus on encouraging investment and paving the way for growth so that we can continue to create stability and security.”

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