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25 January 2017

Small firms speak out on Brexit

New research from the Federation of Small Businesses (FSB) underlines the importance of Prime Minister Theresa May's Brexit pledge to secure the greatest possible access to the EU single market.

'What small firms want from Brexit: A preview of FSB’s Brexit research series', reveals the initial findings from FSB's six-month research programme on the business impact of leaving the EU.

It finds one in three (32%) small businesses are involved in overseas trade as an exporter and/or importer, with the vast majority trading with the EU single market (92% of exporting small firms and 85% of importing small firms). As a result of Brexit, one-third (29%) of exporting small firms, regardless of destination, expect their level of exports to decline, while one in five (20%) expect it to increase. The difference is starker for current importers, where one-third (31%) expect to see a decrease compared to seven per cent that expect to see an increase.

For more details read our full press release,and watch FSB Policy Director Martin McTague's short video below.