Member Article

North West businesses don’t budge on Brexit  

67% of the North West mid-market back Remain. The North West mid-market remains resolute as the EU referendum campaigns have failed to inform or inspire them, according to a new poll published today by accountancy and business advisory firm BDO.

The poll, which surveyed over 600 UK mid-market companies (companies with revenue of between £10m and £300m), found that, for nearly 90% of firms, the Remain or Leave campaigns had no impact on their opinions.

A further 52% said the campaign was of low quality with just three firms out of 619 praising the high quality of the campaigns.

The survey found that two thirds (65%) of the UK’s mid-market are backing Britain to remain part of Europe and 71% believe leaving the EU would make the economic environment less conducive to running a successful business.

The mid-market is politically and economically important to the UK and the region. These firms account for a quarter of private sector jobs - employing six million people across the UK - and generate revenue of £1tn each year.

Commenting on the poll findings, Ed Dwan, partner and head of BDO in the North West, said:

“This data shows that the North West mid-market is truly global in its outlook.

“Exports and international trade are critical to the mid-market in the region. These firms are entrepreneurial, have high-growth targets and are focused on international expansion so it’s no surprise that the majority of these businesses support remaining within the European Union.”

Despite being in favour of staying, mid-market firms do want further changes to the EU. Over half (51%) of mid-sized businesses call for a greater focus on improving the EU’s worldwide trade agreements, such as the EU-US Transatlantic Trade and Investment Partnership, and negotiations with high-growth markets, such as India.

A third (34%) of the mid-market also want to see liberalisation of markets to further simplify international trade – the creation of a digital single market would make it easier for consumers to buy online across Europe.

If the Government achieves these reforms, UK mid-market companies in favour of remaining in the EU increases to 77%.

The data is part of BDO’s New Economy campaign which includes a set of policy proposals developed by BDO aimed at putting the entrepreneurial mid-market at the heart of the UK’s economy.

This was posted in Bdaily's Members' News section by BDO .