May 5 2016

With less than two months to go until the EU referendum, many people are still unable to say which way they will vote, from a personal or a commercial perspective.

There have been so many spurious claims made by both sides of the debate that often the key issues get lost. It is impossible to know what the real impact of Brexit will be without it taking place, but here are some of the possible pros and cons of Brexit for SMEs.

Less red tape: Many EU regulations are considered a burden to British businesses, particularly SMEs, creating needless and time consuming bureaucracy which hampers business innovation and growth. Leaving the EU may allow the British government to roll back some of these regulations.

Working time directive: Their staff may not agree but many SME owner/managers would be quite pleased to see the back of the EU’s working directives which regulate working hours, annual leave and parental leave.

Tax: The UK’s contribution to the EU budget costs about £140 per head. Leaving could therefore mean tax reductions which would

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