Most British SMEs aren’t worried by the prospect of a referendum on Britain’s EU membership
Most British SME businesses are largely unconcerned about the impact of an EU referendum on their business, said Steve Gilroy, the CEO of Vistage, the leadership organisation for business owners.
The majority (71%) of larger SME businesses surveyed by Vistage earlier this year did not think that the debate on a referendum on Britain’s membership of the EU will have a detrimental effect on their business. However, 14% are concerned with the prospect of a referendum, revealed Vistage’s research into over 400 business owners (and 15% don’t know).
Steve Gilroy, CEO of Vistage, said: “Our research shows that many of Britain’s mittelstand business owners are confident about their performance, and that plans for EU referendum are not a threat for most of them.
“However, there is a sizeable minority of SME owners who are concerned about the impact that having a referendum will have on their business because of the uncertainty generated.”
The research is based on responses from 416 CEOs, MDs and owners of largely medium-sized and larger-small businesses, conducted in April 2014 by Vistage.
Steve said: “Large international businesses may not like the prospect of Britain leaving the EU. However, it will have little impact on many small and medium-sized businesses in the rest of the UK, whose views reflect these of a majority of Britons who wish to leave the EU or at least redefine the terms of our relationship with the EU.
“Our research shows that most owners of SME businesses in the UK will not be losing sleep over the possibility of a referendum, and both sides of the debate need to make a strong case if they want to win over SMEs as about 40% said their views on its impact are neutral.
“Clearly, for those business that trade substantially with the EU there is some concern about the future direction, but the average British SME is now considerably stronger than it was a few years ago, more agile, more open to change, more innovative. I think these qualities all contribute to higher confidence; whatever the future brings in terms of our relationship with Europe.”