Brexit & EconomyPoliticsMid-sized biz support EU stay, claims BDO

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

Mid-sized biz support EU stay, claims BDO

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.

Related Articles

Government publishes post-Brexit customs arrangements policy paper

Politics Government publishes post-Brexit customs arrangements policy paper

1m Alia Shoaib, Reporter
Autumn Statement 2016: Higher taxes for a simplified system, say businesses

Corporate Tax Autumn Statement 2016: Higher taxes for a simplified system, say businesses

10m Stephanie Wix, Writer
Brexit could cost accountancy firms £6.4bn in lost fees

Accounting Firms Brexit could cost accountancy firms £6.4bn in lost fees

1y Richard Crump, Writer
Brexit - three things to think about for your clients (and yourself)

Accounting Firms Brexit - three things to think about for your clients (and yourself)

1y Carl Reader
Colin: Easy-peasy Brexit calculator

Corporate Finance Colin: Easy-peasy Brexit calculator

1y Taking Stock
Civil service turns to Big Four for help over Brexit trade negotiations

Accounting Firms Civil service turns to Big Four for help over Brexit trade negotiations

1y Richard Crump, Writer
Roy-Chowdhury: International tax policy should be closely aligned with the EU

Corporate Tax Roy-Chowdhury: International tax policy should be closely aligned with the EU

1y Chas Roy-Chowdhury
Post-Brexit Britain ‘open for business’ as Osborne to slash corporate tax rate

Corporate Tax Post-Brexit Britain ‘open for business’ as Osborne to slash corporate tax rate

1y Fraser Simpson, Reporter