Business Owners More Upbeat About Brexit

In May, 28% of small firms thought leaving the European Union would result in a recession, but this has now fallen to 18%

Business Owners More Upbeat About Brexit

UK small business owners are more upbeat about Brexit than they were before the referendum, according to a report by Opinium.

The survey of 500 senior decision makers in the small enterprise landscape revealed that 52% of respondents believed that share prices would fall in the wake of June’s surprise result, but this figure has since decreased to just 39%, suggesting business owners are now less pessimistic about the future.

In May, 28% of those surveyed believed a potential Brexit would result in an economic recession, but this figure has also fallen to just 18%.

However, 45% are of the opinion there will be a slowdown in economic growth, even if this won’t lead to a full-on recession.

Oct 2016

May 2016

  Rise Fall Rise Fall
Share prices 29% 39% 16% 52%
Economic growth 31% 37% 22% 45%
Unemployment 36% 20% 41% 19%
Wages 18% 22% 16% 23%
Inflation 47% 8% 50% 7%

 

  Oct 16 May 16
There will be at recession 18% 28%
There will be a slowdown in economic growth but there won’t be a recession 45% 39%
The economy will continue growing as before the referendum 27% 22%

 

James Endersby, managing director at Opinium Research said:

“The shock caused by the referendum result prompted all businesses, large and small alike, to think quickly about the potential ramifications of leaving the EU.

“Now that some time has passed since that historic vote, for the moment we’re seeing that fear is starting to dispel and the outlook of small business leaders is looking up – this should put spirits in good stead as we start to enter negotiations and see the long-term implications pan out.”

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