New research published in recent days suggests that more than three quarters (78 per cent) of British small and medium-sized enterprises (SMEs) have witnessed their revenues either increase or stay the same since Britain’s vote to leave the European Union (EU).
The research, which was carried by commercial office group Citibase, suggests that the majority of SMEs have felt no adverse effect on their finances following the decision to eventually leave the EU and the subsequent political and economic uncertainties the Brexit negotiation process has sparked.
Nevertheless, some 61 per cent of SME decision-makers quizzed as part of Citibase’s Business Confidence Index said that they would like to see the Brexit process reversed so that the UK could retain membership to the EU.
In addition to this, the survey found that more than a third (37 per cent) of SMEs had found it more difficult to raise investment or funding since the referendum, while almost half (49 per cent) were delaying their investment decisions until a Brexit deal is formally agreed by negotiators.
Looking forward, 50 per cent of respondents said that they were confident that Theresa May’s Government would secure a ‘good Brexit deal’.
This figure is up from just a third (33 per cent) of SMEs that said the same in the last quarter (Q4) of 2017, indicating that business confidence in the Government is rising going into 2018.