Business calls for Brexit reassurance in Autumn Statement

The majority of small businesses need reassurance about the future of the economy, as Chancellor Philip Hammond prepares to make his first Autumn Statement.

A new survey from retail tech company Epos Now found economic instability after the vote to leave the EU was the major concern of 65% of small businesses.

Previous polls showed small businesses braving out the uncertainty, saying Brexit had made little difference, but Epos Now said the latest figure suggests impatience with the government’s perceived lack of direction and action.

The survey of almost 1000 small businesses also found that only 11% of small businesses believe that things have improved since the last Autumn Statement in November 2015.

And just 37% are optimistic that the new government’s first spending review will be good for their business overall.

“It seems that reality is setting in and small businesses are recognising Brexit will be a long, drawn-out affair and the uncertainty will affect them,” said Jacyn Heavens, Epos Now CEO.

“Hammond is saying that the UK economy must be watertight to cope with the sharp challenges ahead, so he must bring in measures to benefit this important sector of the economy, to restore their confidence and give a message of support.”