Brexit revenue bounce expected among more than a quarter of SMEs

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More than a quarter of SMEs are expecting a revenue bounce in the first three months following the UK’s departure from the EU on Friday.

The findings, from a survey of 200 senior business decision-makers in SMEs commissioned Leonne International, found that 37% expect the UK economy to grow substantially following Brexit.

Results also show that 51% agree the government should offer more tax breaks to SMEs this year. Meanwhile 18% are planning to open a new office in 2020 and a further 32% are planning to increase technology spending this year.

Michael Haston, CEO of Leonne International, said: “As we reach the final chapter of the Brexit saga, business decision-makers will be relieved to finally have some clarity about the future of our economy, industry and trade.

“Therefore, we can expect 2020 to be a great year for many SMEs, whom have been the engine of the economy and the champions of technological and business innovation in the past few years.

“With the start of the new year and increased clarity on our political and economic situation, SMEs should be seizing the opportunity for growth – often, this requires access to financial support in order to maintain in-house stability and profitability and facilitate long-term growth.”