Small Business Owners ‘Suffering’ Post-Brexit As Over Half Had Voted Remain

Three times as many enterprise owners believe Theresa May can have a positive impact on UK business than those that don’t

Small Business Owners ‘Suffering’ Post-Brexit As Over Half Had Voted Remain

UK small enterprises appear to be “struggling” post-EU referendum despite 54% of business owners voting remain, according to the latest Zurich SME Risk Index.

The survey of 1,066 business owners revealed that 22% already feel the devaluation of the pound has had negative consequences for them with 57% “primarily concerned” about the effect July’s referendum will have on foreign currency and exchange rates.

Business owners may have the right to feel aggrieved however, as just 43% of those surveyed voted to leave the EU.

When quizzed about the new prime minister Theresa May, three times (25%) as many respondents believe she can have a positive impact on their business than those that don’t (8%).

Just yesterday, the Business in Britain report from Lloyds Bank suggested confidence among the UK business owners has hit a four-year low with many concerned about the UK’s economic uncertainty.

Anne Griffiths, head of small business proposition at Zurich, said:

“Amid concerns over currency fluctuation, import and export conditions, and international trade talks, small businesses appear to be showing confidence in the new prime minister to deliver stability in uncertain times.

“Statistics suggest a worrying uplift in concern about business risk among small businesses, which hit two year highs earlier this year. While business conditions remain uncertain, it is vital that the interests of UK small businesses remain represented on the world stage, and that British business leaders receive the support they need to continue to function as the backbone of the UK economy.”

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