Over half of British SMEs voted to remain in the EU, according to a recent survey.
Liberis found that 62 percent of British SMEs voted to remain in the EU and 41 percent of over 500 SMEs surveyed said the triggering of Article 50 has had a negative impact on their business
The survey asked over 500 UK small business owners how they voted in the 2016 EU Referendum and what effects Brexit has already had on their business.
Product sourcing and services have been hit the hardest with 27 percent of businesses citing these areas a struggle since the leave vote.
When asked which areas of their businesses have been negatively affected by the decision to leave, the majority, 47 percent, said “none of the above”, which included sales or leads, business relationships, bottom line, business development, product or service sourcing and hiring staff.
However, 27 percent of SMEs surveyed said that product and service sourcing has suffered, with bottom line also being negatively affected by the referendum results at 24 percent.
When asked which areas of their business have been positively affected by Brexit- including sales or leads, business relationships, bottom line, business development, product or service sourcing and hiring staff- 76 percent said ‘none of the above’ have been positively affected, with only 12 percent saying sales and leads have benefited.
The survey also found that 65 percent of respondents don’t believe leaving the European Union will affect their business’ ability to hire staff.