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SME owners believe Brexit is impacting business

It has caused one in five SME owners to become uncertain about making business decisions.

More than half (54%) of SME owners believe the ongoing Brexit process is impacting how they run their business, Nucleus Commercial Finance has found.

One in five (18%) owners said they have become more uncertain about making business decisions, while a further 16% have written off having a successful business year in 2019.

Chirag Shah, chief executive officer at Nucleus Commercial Finance, said: “The last three years of ongoing uncertainty around Brexit has clearly had a negative effect on small businesses across the UK.

“It’s particularly alarming that a significant amount of SME owners have now put future planning and strategy development on hold.

“SMEs need to invest in their future to stay ahead of the curve, however today’s political and economic environment is not providing business owners with the confidence to do this.”

Some 11% have put off future planning and strategy development as a result of lack of political clarity while 9% have spent less time focussing on their business this year due to Brexit.

 

 

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