Comment: Brexit must not hit small businesses disproportionately

14 Oct 2016

With the trajectory of the Brexit process still at a nascent stage, Mercer & Hole's Michael Armstrong looks at what it could mean for SMEs from foreign exchange fluctuations and access to the single market to VAT harmonisation and the risk of multiple customs declarations

The negotiations have yet to formally begin and Brexit itself will not be delivered until the new year of 2019 at the earliest. All of the detail will remain up in the air for while yet but we continue to talk to our clients about the challenges and opportunities that lie ahead. Escaping the regulatory burdens imposed by the EU is often cited as a prospective boon for small UK businesses but there are a range of specific issues at play.

In both the short and long term businesses will need to plan ahead to take best advantage of their ability to be flexible and nimble.