News | Legal News

24 June 2016

Small firms ‘need Brexit clarification’

The Government is being urged to boost the confidence of the UK's small businesses by ushering in a period of stability.

The call comes from the Federation of Small Businesses (FSB) in the wake of the EU referendum result and the announcement that Prime Minister David Cameron is to resign.

The FSB's national chairman, Mike Cherry, says voters' decision to take Britain out of the European Union has already had an impact on the markets.

Small businesses, he says, now need the Government to spell out exactly what the decision will mean for them.

One in four such firms, he adds, export their goods or services, most of them to other EU countries.

That means, says Mr Cherry, that it is essential for them to know exactly how Brexit will  affect their access to the single market and the free movement of employees

Confidence among the UK's small businesses is already at a three-year low and preventing it from dipping even lower hinges upon the practical implications being clarified, he says.

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