One Of The Most Tumultuous Years For Business Owners In UK

Ed Molyneux, CEO and Co-founder at FreeAgent

22.06.2017 10:30 am

The past year has been one of the most tumultuous in recent memory, thanks in part to a divisive general election and EU referendum that have caused major upheaval to the UK’s political and economic climate.

Twelve months on from the referendum - and with Brexit negotiations starting this week - we’re still not fully sure the direction the UK is heading in or what the final outcome of our divorce with the EU will be. And this uncertainty is bad news for the five million or so micro-business owners in the UK; many of whom believe that Brexit will not only be incredibly damaging to the economy, but also to their own businesses.

Given that we are now supposed to be two years away from Brexit actually happening, I believe it is imperative that every business owner in the UK has clear, up-to-date information about how the negotiations are progressing and what the effects of leaving the EU will have on critical issues such as trade and tax. Furthermore, the government needs to keep the micro-business community firmly in mind when developing its Brexit deal, so that these businesses can be shielded from any potential harm that may arise.

With the Conservative government failing to secure a majority in the last general election, I also hope that there will be a rethink over the direction of the UK’s Brexit strategy. I believe that pursuing a softer option - rather than Theresa May’s hard Brexit plans - will be far more beneficial for the UK’s micro-businesses and the economy in general.