(POOL\/AFP via Getty Images) <\/p>\n
Two-thirds of small and medium UK businesses would now vote to remain in the EU<\/a> after seeing their profits harmed by Brexit<\/a>, new analysis shows.<\/p>\n A survey of more than 500 importers and exporters found 66 per cent would choose to stay in the bloc, up from 53 per cent who voted that way during the referendum in 2016. The percentage of those who would vote to leave was 29 per cent, down from 32 per cent.<\/p>\n The findings, from research carried out by Critical Research, appear to be a direct response to the fact that costly rising regulations and red tape burdens have harmed the profitability of their businesses.<\/p>\n 65 per cent of responders said the increased demands on them to comply with trade regulations have \u201csignificantly\u201d affected their overall profits. More than half (56 per cent) said Brexit<\/a> has directly made their business<\/a> less-competitive within the context of the global marketplace.<\/p>\n Small and Medium Enterprises (SMEs) in the UK usually have fewer than 250 employees and less than \u00a344m in annual turnover, though there are further criteria relating to balance sheets, wider ownership structures and personnel. Small businesses, with fewer than 50 employees, made up 99.2 per cent of all UK businesses in 2024 \u2013 a total of around 5.5m of them which contribute more than an estimated \u00a32 trillion between them in annual turnover.<\/p>\n However, many of those who sell to or buy from abroad have been impacted by regulatory changes since the UK left the EU<\/a>.<\/p>\n An ensuing report on the figures by Bibby Financial Services suggested Keir Starmer<\/a>\u2019s reset talks with the EU<\/a> in May could lead to improved prospects for the UK\u2019s small businesses.<\/p>\n