Mid-sized biz support EU stay, claims BDO
65% of mid-market firms want to stay in Europe as it would be harder to run their business if the UK cuts ties with Brussels
MEDIUM-SIZED businesses are in favour of staying in Europe, but have called for greater EU reform to help UK businesses, according to figures from BDO.
A survey of 632 British mid-sized companies found that 70% of them would find it harder to run a successful business if the UK votes to leave Europe on 23 June.
Mid-sized companies make up just 1% of all UK business, but create one in four private sector jobs and are responsible for over £1trn (trillion) in UK yearly revenue.
More than half want the EU to focus more on the controversial Transatlantic Trade and Investment Partnership (TTIP) with the US, while a third (35%) have called for a single digital market in order to support European e-commerce.
BDO managing partner Simon Michaels (pictured) said: “Exports and international trade are critical to the UK mid-market. These firms are entrepreneurial, have high-growth targets and are focused on international expansion so it’s no surprise that the majority of them support remaining within the European Union.”
Although mid-market companies want to avoid Brexit, they have urged for further EU reform, including better trade agreements, less red-tape and liberalisation of markets to increase UK job creation, Michaels added.
