Brexit deal a welcome step back from the no deal cliff edge

Press Releases 15 Nov 2018

Commenting ahead of the Prime Minister’s Commons Statement on the Withdrawal Agreement, Federation of Small Businesses (FSB) National Chairman Mike Cherry, said: “With 20 weeks left until exit day, many small businesses will be relieved to finally see some progress being made. An agreed draft Withdrawal Agreement is a significant step back from the cliff edge which would result in a chaotic no deal Brexit that would be deeply damaging and dangerous for our small firms.

“If this deal passes parliament, small businesses will be given the security of a transition period which will allow them to carry on operating as they do now from the 29th of March 2019 until at least the end of 2020. This brings with it some certainty that our small businesses have craved. It will hopefully lead to businesses pushing the go button on investment decisions that have been on pause as they waited for a better understanding of the medium term trading landscape post Brexit day.

“Negotiations must now move quickly onto nailing down our future trading relationship with the EU post July 2020. Whatever option is agreed upon, it is essential that our small firms are given sufficient time and support to prepare for any changes.

“A deal is now on the table and it is important that the UK Government and EU press ahead as this is the best chance of avoiding a catastrophic cliff edge that would disproportionately harm smaller businesses who are the engine of the UK economy.”

About FSB

As the UK’s largest business support group, FSB is the voice of the UK’s small businesses and the self-employed. Established over 40 years ago to help its members succeed in business, FSB is a non-profit making and non-party political organisation that’s led by its members, for its members. As the UK’s leading business campaigner, FSB is focused on delivering change which supports smaller businesses to grow and succeed.

FSB offers members a wide range of vital business services, including access to finance, business banking, legal advice and support along with a powerful voice in Government. Each year FSB also runs the UK’s Celebrating Small Business Awards. More information is available at www.fsb.org.uk. You can follow us on twitter @fsb_policy and on Instagram @fsb_uk.

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