Need for stability paramount for UK small business
Need for stability paramount for UK small business
Responding to the announcement by the Prime Minister to resign and the decision by the UK to leave the EU, Mike Cherry, National Chairman at the Federation of Small Businesses (FSB), said:
“The events of the last 24 hours have been momentous and the effects have already been seen on the markets. Clearly the EU Referendum debate has been contentious, but we now call on the Government and all parties to bring stability for the business community.
“FSB calls on the Government for clarity on what these decisions now mean for business, including how businesses will have access to the single market and the free movement of people and trade.
“Nearly a quarter of FSB members export, with the majority exporting to the single market. Access to the single market means access to 500 million potential consumers, more than 26 million businesses and is worth 11 trillion euros. We call on the Government for clarity on the impact to smaller firms who export wider afield through EU FTA agreements.
“These are crucial questions that need to be answered swiftly to ensure the UK’s 5.4 million small business confidence does not fall any further, which is already at the lowest levels since 2013.This includes clarity over the practical implications of this result on how smaller firms do business.
“FSB will continue to be a constructive partner in any upcoming negotiations, ensuring the voice of smaller firms is heard loud and clear.”
Ends
Notes to editor
1) Throughout the EU Referendum campaign, FSB has maintained a neutral stance and did not taken a side. Our main goal has been to help ensure our members get clear and neutral information about the EU to enable them to make a decision that is right for them and their business.
2) Article 50 is part of the 2007 Lisbon Treaty, which sets in motion the process of a member state withdrawing from the European Union.
3) FSB Small Business Index (SBI) Q1
About FSB
As experts in business, FSB offers members a wide range of vital business services, including advice, financial expertise, support and a powerful voice in Government. Its aim is to help smaller businesses achieve their ambitions. More information is available at www.fsb.org.uk. You can follow us on twitter @fsb_policy.
Media contacts:
Anne Mannion: 020 7592 8121 / 078 2724 9090 anne.mannion@fsb.org.uk
Jack Neill-Hall: 020 7592 8116 / 075 2580 1773 jack.neillhall@fsb.org.uk