EU referendum: Almost three-quarters of London’s professional practices fear a Brexit
Almost three-quarters (71 per cent) of London’s professional practices believe Britain leaving the EU would have a negative impact on their business, Smith & Williamson has revealed exclusively to City A.M.
However, only 38 per cent of firms outside of London and the South East questioned in the accountancy group’s Professional Practices Survey thought that a Brexit would negatively affect their business.
Giles Murphy, head of professional practices at Smith & Williamson, said: “Firms in London and the South East have considerably higher levels of cross-border activity and larger firms’ outlook is often heavily focused on international and trans-European issues and businesses. Realistically, this contrast in attitudes is only likely to widen as communications and transport links between Europe and the South East corner of the UK continue to improve.”
The survey also revealed that 78 per cent of UK firms felt more positive about their business prospects since May’s general election.
“These results appear to reflect the greater certainty brought by an overall parliamentary majority for a single party and support for the Government’s economic track record and the Conservatives’ traditional business-friendly credentials,” Murphy added.