More than half of SMEs (56%) say they have felt no impact on levels of business from the UK’s decision to leave the EU, according to the Close Brothers Business Barometer, a quarterly survey of UK SME owners and senior management across a range of sectors and regions.
Nationally, 24% of those surveyed said Brexit had had a direct effect on their company, while a further 20% felt that it was too early to tell.
Of those companies who felt that there had been an impact on their business, 40% have seen an improvement in business while 43% have seen a decrease. The remainder (17%) said business had stayed about the same. Engineering firms were the most positive, with 65% of firms surveyed saying the impact of Brexit has been beneficial.
Neil Davies, CEO of Close Brothers Asset Finance, said: “It’s clear that the majority of UK SMEs are yet to feel any real and tangible effect from Brexit. It’s interesting to note that of those who have been impacted, it’s pretty much split down the middle in terms of those who have been positively and detrimentally affected.”
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