Government Must Not Just Put Large Corporation's Interests at the Heart of Brexit Negotiations

Government Must Not Just Put Large Corporation's Interests at the Heart of Brexit Negotiations

Ed Molyneux

CEO and co-founder at FreeAgent

Views 284

Government Must Not Just Put Large Corporation's Interests at the Heart of Brexit Negotiations

29.03.2017 10:15 am

The triggering of Article 50 is a decision that the UK’s micro-business owners will have great concerns about, so I hope that the government will take their views into consideration as it negotiates our exit from the EU.

There are currently have more than five million micro-businesses in the UK, comprising around 95% of the country’s total number of businesses. But despite forming the backbone of our economy, they are rarely taken into consideration when it comes to big changes in legislation or policy - and many of them are disheartened by the looming prospect of a hard Brexit.

We recently carried out a survey of micro-business owners and found that the overwhelming majority were not happy with the result of the referendum, while nearly three quarters of them thought that Brexit would have a negative impact on the UK. In addition, 84% of respondents said they didn’t think they had been given enough information about the impact that Brexit would have on their businesses.  

It’s therefore imperative that the government properly engages with the micro-business sector during its negotiations with the EU and ensure that their concerns are listened to in the years ahead. We need to consider the impact that Brexit will have upon every business in the UK - not just larger enterprises and corporations - so we can build a post-Brexit economy where everyone is given the opportunity to flourish and grow.

Latest blogs

Shuvo G. Roy Mphasis

Reboot 1.0: How financial services technology can enable the supply chain to support a post-lockdown boom

Ground control and Captain Tom When veteran Captain Tom Moore decided to walk one hundred laps of his garden before his 100th birthday to raise funds to support NHS heroes battling Covid-19 from the frontline, he never imagined that he would Read more »

Lisa Gutu Salt Edge

Building a PSD2 compliant channel: challenges and opportunities for financial institutions

PSD2 obliges ASPSPs including banks, e-wallets, prepaid cards and other companies that offer payment accounts to provide at least one channel for secure communication with third party providers (TPP). Even neobanks or e-money institutions, including Read more »

Thomas Pintelon Capilever

Credit origination - A lot of innovation on the horizon

While consumer credits are becoming more automated and user-friendly to request, all other credits are often still very manual and labor intensive to originate. In this (relatively long) blog I will try to give a description of the (potentially Read more »

Kelly Kearsley

Time Card Theft is a Big Problem. Here's How to Stop It.

Trust is at the core of every employer-employee relationship. You trust your people to do their jobs, and they trust you to compensate them for their work. Most of the time, it works. However, there's always the person looking to bend the rules or Read more »

Daria Afanasyeva UTP Merchant Services Ltd

Cybersecurity – Online payments are getting more secure

Ever since we've been able to buy anything we need with just a click of a button on our laptops or phones, online sales have been consistently increasing each year. Just last year, the total value of UK retail sales was £394 billion, with an average Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel