Small Business Facing BREXIT
Last June Britain voted out – a precedent in the history of the European Union. The world was shocked, Europe was speechless and Britain did not believe the results. The difference between the results was minimal yet sufficient. And the negotiations started the long procedure of uncertainty for the future.
But where does this situation leave the small and medium-sized entrepreneurs (SME)? Even though the process of breaking free of the EU is going to be long, it will be completed eventually. Will the SME be facing hard times or will they withstand the storm?
A recent survey shows that about 73% of them did not delay key decisions in the dawn of the Brexit. And what is more only 42% are the EU supporters, proving that Britain made the right choice. The majority of the business holders know this is a turbulent time, but are very positive toward the outcome.
Especially in the flooring sector small retailers and producers combine their activities and create a stronger chain of supply and service. SMEs prefer to bet on the mutual benefit with less personal profit in order to secure the future. And thus, they tend to adapt easier and be more flexible. Together they stand better chances and riskless. They put their trust in the government to take their views for a softer Brexit negotiation and full access to the single market.
Even though at first there might be a negative impact on the revenues and most importantly supplies, the SMEs are certain that all can be endured. Jobs and profit will be decreased, but that is expected and normal in such situations. Every change comes at a price, but the British business remains confident and looks straight ahead into a brighter future. The trade agreements do not happen overnight but are a project of long discussions and compromise. Foreign investments will also be restricted due to the negotiations, but the British business has a positive attitude of regaining the trust in their economy and stabilising it soon.
Brexit is viewed as somewhat of a crisis that will be overcome with a unified national view toward the political and regulatory landscape.