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SME employees fearing for their jobs following Brexit

People working in small and medium-sized businesses in the UK have voiced their concerns regarding job security, all following the results of the Brexit vote. The news comes from Close Brothers, whose quarterly survey of UK's SMEs, called Business Barometer, takes a closer look at the state of the economy. In the survey, it says that 26 per cent of SME business owners admitted being asked by their employees about Brexit. In the Greater London region, the concerns have been in greatest numbers – 52 per cent.  

Also, people in East Anglia (12 per cent), Northern Ireland (13 per cent) and Wales (14 per cent) also voiced their concerns. 

“Looking at the results from a national perspective, the fact that 26 per cent of business owners admitted to having being asked directly by their employees what Brexit means for them shows that there is a strong level of interest in the impact of the UK’s decision to leave the EU,” commented Neil Davies, CEO, Close Brothers Asset Finance. 

“In most cases the answer was understandably ‘it’s too early to tell’, according to our research. 

"In many instances, company bosses proactively addressed the potential impact of Brexit with employees before they had a chance to ask, doing what they could to answer questions and concerns.” 

“Interestingly, those regions who felt the least initial impact from Brexit, also returned the lowest number of employee concerns,” continued Neil. 

People were mostly concerned in construction (31 per cent), engineering (38 per cent), manufacturing (34 per cent), transport (33 per cent) and print (37 per cent). 

Image Credit: D Smith / Flickr