Twenty-eight per cent of the UK’s small and medium sized enterprises (SMEs) are expecting a bounce to their revenues in the first three months after the UK’s departure from the European Union on Friday January 31, a new study has revealed.

A survey of 200 senior business decision-makers in UK SMEs, commissioned by Leonne International, also found that 37% are expecting the UK economy to grow substantially following Brexit.

Leonne International, the private equity firm focused on the development of SMEs, revealed business owners from the West Midlands were most confident that the economy would see growth, with 50% of those surveyed in agreement. The North-west of England followed on 45% and in third was the North-East, with 42%.

The private equity firm added that 41% of surveyed business decision-makers had indicated that a majority government would be good for their business growth – a figure that rose to 60% of those from the North-East.

Leonne International CEO, Michael Haston, commented: “As we reach the final chapter of the Brexit saga, business decision-makers will be relieved to finally have some clarity about the future of our economy, industry and trade.

“Therefore, we can expect 2020 to be a great year for many SMEs, whom have been the engine of the economy and the champions of technological and business innovation in the past few years.

“With the start of the new year and increased clarity on our political and economic situation, SMEs should be seizing the opportunity for growth – often, this requires access to financial support in order to maintain in-house stability and profitability and facilitate long-term growth.”

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