Brexit a “big blow” to UK’s micro-businesses

The last thing the business sector needs is to be kept in the dark, says CEO 

Britain’s decision to leave the EU is a big blow to the nation’s micro-businesses, according to Ed Molyneux of Edinburgh-based FreeAgent, who says exporters are going to be heavily hit and the government must make it clear what will happen next.
The CEO and co-founder said: “This result is a big blow to the UK’s micro-business sector and I think a lot of people will be very concerned about what the future will hold.
“It was clear during the run up to the referendum that the overwhelming majority of micro-business owners and freelancers were in favour of the UK remaining in the EU, and that they did not think a ‘Brexit’ would be beneficial for their own businesses or the economy in general.
“The ramifications of leaving the EU are going to be huge – especially for small businesses who sell products and services worldwide, rather than just domestically. And we now look set for a lengthy period of uncertainty while negotiations presumably take place over the terms of the UK’s exit.
“I would therefore urge the government to be as swift as possible in providing updates about how these discussions are progressing, and give every business owners in the UK clear, up-to-date information about what the effects of Brexit will be on important issues such as trade and tax. The last thing the business sector needs is to be kept in the dark.”

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