Business Owners More Worried About Europe Than Britain Post-Brexit

With Article 50 set to be triggered next month, businesses are most concerned about access to the single market and raising finance

Business Owners More Worried About Europe Than Britain Post-Brexit

UK small business owners are more worried about the future of the European market than the domestic one, according to a new report by Idinvest Partners.

The survey of 1,500 people revealed that 57% would describe themselves as “optimistic” when thinking about the UK economy over the next 12 months, with respondents 10% more concerned about Europe’s performance in the same period.

Just 59% said they were pessimistic about the country’s future economic performance and a potential rise in inflation.

With Article 50 set to be triggered next month, access to the single market (30%), raising finance (29%), and red tape (23%) were signalled as being the main causes of concern – with 47% saying that personal savings will be their most likely source of funding raising.

Christophe Bavière, CEO and Benoist Grossmann, managing partner at Idinvest Partners, said:

“These findings clearly demonstrate the strong entrepreneurial drive at the heart of the nation and the belief that the UK continues to provide a supportive social and economic environment to foster this talent- a view that we continue to support.”

Alex Saint, co-founder and CEO of Secret Escapes, said:

“The British entrepreneurial climate is as hot as ever, we’re a nation of creative thinkers who value hard work, ambition and aren’t too keen on having a boss.

“It’s disappointing that we’ve chosen to distance ourselves from Europe but I’m not surprised that budding UK entrepreneurs aren’t deterred, I don’t see any reason right now why people shouldn’t be hugely optimistic about starting their own business.”

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