Businesses Praying For ‘Soft Brexit’ As Faith In Government Weakens

Reduced taxes, extra support funds, and a roll back on austerity are some of the items on businesses’ Christmas wish list

Businesses Praying For ‘Soft Brexit’ As Faith In Government Weakens

UK small businesses are dreaming of a ‘soft Brexit’, as just 29% have confidence in the government’s ability to protect them after Article 50 is triggered – according to a report by CitySprint.

The survey of 1,001 enterprise owners revealed that 79% feel they haven’t received enough information about the potential business impact of Britain officially leaving the EU, with 50% hoping the UK retains access to the single market in return for some concessions to the EU.

Just 35% of respondents have said they support a ‘hard Brexit’ which would potentially mean the UK giving up access to the single market, while 15% said they were unsure which option they preferred.

When asked what support measures they’d like the government to implement, 49% said slashed taxes, 36% said they’d like to see a small business fund set up, while 34% wanted austerity measures rolled back.

Despite the political uncertainity, June’s referendum appears to have had little affect on respondents as 82% said their business is in the same or better shape than it was a year ago – with 75% more, or equally, confident about the future than they were 12 months ago.

Patrick Gallagher, CEO of CitySprint, said:

“Small businesses are the lifeblood of our economy and have worked hard over the last decade to adapt and weather its economic ups and downs.

“Undoubtedly they will rise to whatever challenges lie ahead, but our survey shows that small business leaders are crying out for more support, information and reassurance from the government to help them continue to do what they do best: keeping the country moving.”

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