61% of UK SMEs would like to reverse the Brexit process

LLB Reporter

According to the latest Citibase Business Confidence Index

Following sustained political and economic uncertainty, 61% of UK SMEs would like to reverse the Brexit process and retain membership to the EU, according to the latest Citibase Business Confidence Index, now in its second year.

The survey of 1,059 SME decision makers by flexible officing champion  Citibase also reveals that 78% have seen revenues either increase or stay the same since the decision to leave the UK, up from 75% one year ago, suggesting that pockets have not yet been hit as hard as many would have anticipated. Despite this, some SMEs (37%) have reported struggling to raise funding or attract investment, an issue that is most prominent in the North East (64%). Equally, just under half (49%) of SMEs are delaying investment decisions until an outcome is reached.

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Steve Jude, Citibase CEO, comments: “While on the surface confidence levels are up, the message from SMEs is clear – they would prefer to not be in this Brexit situation at all, as evidenced by 61% wanting to press the reset button on the entire process. As a result, these SMEs are cautious about the future and don’t want to commit to anything that may stifle their success, such as long-term office contracts that don’t allow them the flexibility they crave to be agile, successful businesses.”

“2017 also gave rise to the general trend of larger corporates taking flexible office space, showing that the benefits of agility and flexibility are wide-reaching, whether you are a small start-up or an established entity. Demand for flexible offices is continuing to soar across the country as businesses wake up to the flexible working revolution. Smart building owners can also benefit from this revolution in occupiers shunning traditional office leases, by turning to flexible providers like Citibase that can transform their underused spaces, whether single floors or entire buildings, into profit generating assets that support UK businesses.”

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