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Business owners aren't fond of the Brexit idea

Small and medium-sized businesses in the UK (SMB) aren't really fond of the idea of UK leaving the European Union. According to new research by Swiss data bank Artmotion, less than a quarter of SMB owners and managers believe Brexit will have a positive impact on data privacy, and almost half (44 per cent) believe it will have a negative impact.

Another third (34 per cent) were unsure.

That's despite the fact that the UK government announced a £2 billion investment in cyber-security.

“While views seem to be polarised, both sides of the in-out coin offer data privacy risks for the UK. The latest EU data protection legislation offers US agencies a ‘back door’ into data, while the UK government offers few guarantees on data privacy. But there are other options for UK companies,” said Mateo Meier, CEO of Artmotion.

“Within Europe, but outside of the EU, Switzerland has always prided itself on offering a neutral space – strict on data privacy, yet free from an overly obtrusive government intervention. Otherwise UK businesses face a decision of whether they want to be snooped on by Brussels or snooped on from London. The choice is theirs.”

The UK is polarised over the upcoming referendum, less than six weeks away, about the country leaving the European Union.

On one hand, there are many companies, including UK’s unicorns, that believe nothing good would come out of the UK leaving EU, while others claim the country would become more competitive in the global stage if there were no EU regulations to follow.

Image Credit: JMiks / Shutterstock

Sead Fadilpašić

Sead is a freelance journalist with more than 15 years of experience in writing various types of content, from blogs, whitepapers, and reviews to ebooks, and many more, across sites including Al Jazeera Balkans, TechRadar Pro, IT Pro Portal, and CryptoNews.