A new business confidence tracker suggests that British small and medium-sized enterprises (SMEs) that export products and services overseas are growing increasingly anxious about Brexit.
According to reports, British businesses that currently enjoy successful trade with organisations based in the European Union (EU) are losing confidence in the Government’s ability to secure a good Brexit deal for businesses in terms of cross-border trade agreements.
The comments come alongside the publication of flexible working firm Citibase’s latest SME confidence tracker, which found that almost a quarter (21 per cent) of British businesses are now concerned that Brexit will deal a blow to their revenue.
Citibase’s latest report reveals that this percentage is up from only 19 per cent recorded as part of its last tracker in the second quarter (Q2) of 2017, and just 17 per cent recorded in the first quarter (Q1) of the year.
Concerns have been raised that Brexit anxieties are reaching all-time highs, after rising at a rate of two per cent every quarter since the beginning of the year.
Steve Jude, CEO of Citibase, said: “SMEs are the lifeblood of our economy and it is essential to rebuild their confidence in the future for UK business.”
He added that the figures should be interpreted as “a wake-up call” by the Government, which needs to step up and offer greater support and certainty to Britain’s small businesses sooner rather than later.