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FSB reports on Brexit effects for small businesses

FSB has produced a series of reports on the effect of Brexit on small businesses:  They can all be found here: https://www.fsb.org.uk/media-centre/publications

However, strengthening the UK’s global trade has never been more important than it is now. Leaving the EU has expedited the long standing drive, from Government and industry, to grow UK exports. 

Furthermore, the Prime Minister’s confirmation that the UK will also leave the EU single market and full EU customs union has initiated a fundamental shift in the UK’s relationship with major international trade partners. 

For small businesses, the opportunities and risks of Brexit are complex. However, before small firms can be supported to better understand what Brexit might mean for their business, and prepare accordingly, the Government and wider industry must understand the possible impact of Brexit on small firms. 

Business Rates

FSB has won significant concessions on business rates from government, taking 600,000 small firms out of the rates system all together and meaning lower bills for thousands more.

However, particularly with the large rises some businesses are facing, especially in London and some areas of the South East, reducing the burden of business rates remain a crucial lobbying goal. 

FSB’s position remains in favour of fundamental business rates reform. However, following the recent revaluation fundamental reform is something that the Government is very unlikely to address in the short to medium term, and we are focused on pragmatic reductions to lower the burden on small businesses in particular.

For instance, many businesses have invested in solar panels and other renewable technology and Government is seeking to include this in the renewable energy calculation.

There are many burdens being placed on business as a result of Government policy, including the introduction of National Living Wage and auto enrolment.