Small firms believe the UK should stay part of Europe

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Nine out of 10 small and mid-cap companies ​want Britain to stay in the European Union​, saying it would be more beneficial to their businesses ​to stay part of Europe.

The latest quarterly QCA/BDO Small & Mid-Cap Sentiment Index revealed that only ​four per cent​ of companies ​said they ​supported​ the UK leaving the EU completely.

The report also showed that advisors to small and mid-cap quoted companies echo this sentiment, with the majority (85 per cent) supporting the UK remaining in the EU and with only 12 per cent calling for it to leave.

Almost three quarters (71 per cent) of companies and just over half (57 per cent) of advisors believe that the UK should renegotiate its position in the European Union.

Tim Ward, chief executive of the Quoted Companies Alliance, said: “Small and mid-cap quoted companies clearly see value in the UK remaining part of the European Union.

“For them, it is not a binary ‘in or out’ question. We have found that small and mid-cap companies would rather the UK sorts out how it can optimise its position within the EU system rather than be sitting on the outside looking in.”

However the survey showed that two-fifths of small and mid-cap quoted companies still need persuading of the overall value of EU membership.

Whilst 40 per cent of companies believe that the UK’s membership has a positive impact, just as many feel it has no impact (39 per cent) on their business.