Government Needs To 'Go Much Further'

Government Needs To 'Go Much Further'

Ed Molyneux

Founder and CEO at FreeAgent

Views 311

Government Needs To 'Go Much Further'

03.02.2017 09:15 am

The UK’s micro-business sector has been calling out for more information about how the UK will leave the EU, so the publication of today’s whitepaper is a welcome step. However, I believe that the government still needs to go much further if it wants to allay the fears that people who run their own businesses have about Brexit. 

We recently surveyed more than 700 micro-business owners across the country and found that the overwhelming majority were not happy with the result of the EU referendum. Nearly three quarters of them (70%) thought that Brexit would have a negative impact on the UK - with political and economic instability being highlighted as the primary concern - while 84% of respondents said they didn’t think they had been given enough information about the impact that Brexit would have on their businesses.

Given that micro-businesses comprise 95% of the UK’s total number of businesses, that’s a significant section of the economy that is feeling anxious about the post-Brexit future. Now that the government has published its plan for leaving the EU, I hope these micro-business owners remain front of mind and are kept fully informed throughout the whole of the Brexit process.

Latest blogs

Nish Kotecha Finboot and Bryan Foss, NED, Visiting Professor at Bristol Business School and member of the FRC Audit & Assurance Council

How Listed Companies Can Use Blockchain to Prevent Auditing and Reporting Malpractice and Avoid Scandal

Not too long ago, there was very little to link Wirecard, the disgraced payments platform in Aschheim, Germany, with Boohoo, the fast-fashion online retailer in Leicester, England, but both have recently been embroiled in high-profile scandals. Read more »

Leon Muis Yolt Technology Services

The Time for Financial Services to Become Truly Digital is Now

The financial services industry looks set to change dramatically over the next couple of years in response to COVID-19. The pandemic has certainly highlighted some inefficiencies and weak spots in current processes for many businesses, such as those Read more »

Granville Turner Turner Little

The Lockdown Money Revolution

Many Brits have found that lockdown has been beneficial for their money, having cut back on personal spending and managing to put away some extra cash. According to eToro, Brits with unspent discretionary income are set to accumulate £75.5bn in Read more »

Sandra Higgins Sysnet Global Solutions

Are You ‘Prescribing’ the Right Security Solution to Your Merchants?

When it comes to leading a healthy lifestyle, eating the right food, taking regular exercise, and maintaining a positive mindset are key. However, despite these best intentions and practices, you still might not get all the nutrients your body needs Read more »

Robert Flowers DivideBuy

It Doesn’t Have to Be the End – How Retailers Can Grow in Light of COVID-19

It’s no news that the retail industry has been flipped on its head by the COVID-19 pandemic. Due to the lockdown, most in-store operations have been shut down, and nationwide furloughs, reduced pay and steady streams of income at risk have fuelled a 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