Small business confidence remains low pre Brexit

Blame it on Brexit?

It appears that the UK government isn’t the only establishment floundering. Due to the extension of the Brexit deadline, it’s been widely reported that confidence in the British economy has eroded. Small businesses are generally a cautious bunch, and no-one wants to stick their neck out and get it chopped off. So, in terms of staff recruitment and investment plans, things are looking cautious.

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Fear of the unknown

No-one can successfully predict the future. However, instead of fearing the unknown effects of what being independent of the EU will do to Britain, let’s look on the bright side. Freedom to decide our own fate, our own laws and our own trade associations are all good things. According to a blog from Landbay, landlords in London are reducing rents for the first time since the British public voted to leave the EU.

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The time to branch out is now

Take advantage of the uncertainty and think about branching out. Business expansion may be the furthest thing on your mind, but look at the positives.

If, for example, you’re searching for offices to let Basingstoke is less than 50 miles from London and is thriving. Check out and imagine walking into your brand new offices. With modern, refreshing facilities which offer an in-house gym, showers, air-conditioning and plenty of parking, with an atrium café thrown in, you’ll attract a wider range of job-seekers, especially the younger generation.

As many as 63% of self-employed people in Britain have confirmed that their businesses will not be adversely affected by the UK leaving the EU. Many also feel that they will be more profitable in the near future, perhaps because of the trend towards taking on more temporary staff, saving on compulsory auto-enrolment pension contributions and annual wage increments.

Go global

After Brexit, the lifting of restrictions for UK companies to trade with major emerging markets around the world such as China, India, Argentina and Brazil, could be a boon for businesses. In support of this, the Department of International Trade (DIT) released statistics to show that high quality British goods and services are increasingly demanded. Exporting will increase the profitability and sustainability of small businesses. With the launch of an Export Strategy in August 2018 by the DIT, small businesses really have nothing to worry about.