Need for stability for Wales’ small businesses

Responding to the announcement by the Prime Minister to resign and the decision by the UK to leave the EU, Janet Jones Federation of Small Businesses Wales Policy Unit Chair, said:

“The events of the last 24 hours have been momentous and the effects have already been seen on the markets. Clearly the EU Referendum debate has been contentious, but we now call on the Government and all parties to bring stability for the business community.

“FSB is calling on the UK Government for clarity on what these decisions now mean for business, including how businesses will have access to the single market and the free movement of people and trade.

“Nearly a quarter of FSB members across the UK export, with the majority exporting to the single market. Access to the single market means access to 500 million potential consumers, more than 26 million businesses and is worth 11 trillion euros. We call on the Government for clarity on the impact to smaller firms who export wider afield through EU FTA agreements.

“There is also a question on how the needs of Wales and the Welsh economy will be represented in any of the negotiations that will now take place. However, we very much welcome the clear commitment from the Prime Minister that Wales will be a core part of this conversation

“These are crucial questions that need to be answered swiftly to ensure small business confidence does not fall any further. This includes clarity over the practical implications of this result on how smaller firms do business.

“There is an opportunity and indeed an imperative that the business community in Wales unite to reinforce the strength of our the Welsh economy and the businesses within it”

“FSB will continue to be a constructive partner in any upcoming negotiations, ensuring the voice of smaller firms is heard loud and clear.”