Guy Rigby

Small Business Owners ‘Increasingly Wary’ of Potential Brexit

Small Business Owners ‘Increasingly Wary’ of Potential Brexit

UK business owners are becoming ‘increasingly wary’ of the impact Britain’s exit from the EU (a Brexit) could have on them, according to a report by Smith & Williamson. The survey of small business owners found that 81% of respondents felt that a Brexit would negatively impact their business, up 13% from June 2015. In a worrying trend, UK economic growth has fallen by 4% with the upcoming EU referendum and unstable global economy being cited as possible causes. Despite the negative feedback, 80% of business owners said they felt that their own prospects for the next 12 months had increased over the past quarter, up 5% from the last quarter, with 74% anticipating growth (or an acquisition) in the next 12 months. Guy Rigby, head of entrepreneurial services at Smith & Williamson... »

Small Business Confidence “Plummets” due to Economic Uncertainty

Small Business Confidence “Plummets” due to Economic Uncertainty

Small business confidence in the economy has dropped by 11 points since the last quarter. according to a report by Smith & Williamson. Concerns over the economy and two “less than friendly” statements from George Osborne regarding small enterprises are thought to have contributed to the change in attitude. In the Summer Budget, the chancellor of the exchequer announced changes to the taxation of dividends and in his Autumn Statement he put forward his plan for quarterly tax reporting by 2020. Optimism, among respondents to the survey, for their own prospects over the next 12 months has also declined by eight points to 74%. There is little support for an interest rate rise with 24% of businesses claiming confidence is being adversely affected by the Bank of England maintaining interest ... »