CitySprint: Nearly half of UK SMEs expect no disruption from Brexit

A survey from same day delivery company CitySprint revealed 47 percent of small and medium enterprises in the United Kingdom do not anticipate any disruptive impact from the Brexit, but SMEs in London aren’t quite as confident.    A total of 47 percent of small and medium enterprises (SMEs) in the United Kingdom anticipate no disruptive impact from the UK’s decision to leave the European Union, according to a survey conducted by CitySprint, a same day delivery company in the UK.
   The UK voted on June 23 to leave the European Union, with 52 percent of voters in favor of the so-called Brexit and 48 percent of voters wanting to remain in the EU.
   CitySprint’s survey revealed that only 14 percent of UK’s SMEs polled are concerned the Brexit will affect them.
   “It’s fantastic that the UK’s SMEs remain upbeat and ready to tackle whatever lies ahead,” CitySprint CEO Patrick Gallagher said. “We know that they are resilient, having weathered the economic ups and downs over recent years, but business leaders must not become blasé about the future. As a business leader myself, I have been working closely with my leadership team to prepare for every likely eventuality.”
   However, the survey did reveal London’s SMEs did not feel quite as confident, with nearly three-fourths believing there will be significant disruption to their operations, according to the London’s newspaper City A.M.
   As far as an exit timetable, CitySprint’s poll showed the majority of SMEs throughout the UK would like a six-month delay before the Brexit negotiations start, while 20 percent did not see any need to wait and wanted the government to begin the process immediately, City A.M. said.
   Looking ahead, the UK’s exit from the European Union could be delayed until late 2019 or even longer, the Sunday Times said last week.
   The UK must invoke “Article 50” to officially begin the two-year negotiation process to depart and sources briefed by ministers told the newspaper that officials are hesitant to start those discussions in early 2017 as originally planned because the government is “too chaotic.”