How triggering Article 50 will affect small firms

According to the FSB

Small businesses need more clarity around Brexit, the Federation of Small Businesses has said.

Responding to UK Prime Minister Theresa May’s triggering of Article 50, Mike Cherry, National Chairman at the Federation of Small Businesses (FSB), said:

“On the day Article 50 is triggered small businesses are calling out for clarity on how this will impact how they run their business. FSB members that export and import now need confidence that they will still be able to trade on the same terms. Those that employ non-UK EU citizens in their workforce will want early assurance they will remain, and that hiring new staff will not mean a new system with extra costs and burdens.

“The government must push for a comprehensive free trade agreement with the EU based on ease and cost, and then support small firms to take advantage of new trade agreements with priority markets around the world. When asked where the Government should be looking to secure new trade deals, 62% of small London firms answered the EU single Market, followed by the USA.

Access to the right skills at the right time is crucial for the success of a small business, Cherry pointed out.

“A fifth of FSB members with staff employ non-UK EU citizens, workers that are vital to the UK economy. The right to remain for these non-UK EU citizens must be guaranteed at the earliest opportunity to provide reassurance to smaller firms and their workforces.

“It’s vital that throughout the Brexit negotiations the small business voice is not lost and that the final agreement is positive for British business. For this reason, FSB will continue to be a constructive partner with the Government on Brexit, especially on issues such as access to markets, to skills and labour, funding – as well as creating the right regulatory environment after Brexit.

“There is now a two year window of opportunity to influence EU law. FSB will focus efforts in the Commission and Parliament to secure pro-business reforms to the single market, as arrangements agreed between now and March 2019 will become UK law.”