It’s less than a year since the UK voted to leave the EU and we’ve seen one Prime Minister resign and another one close to being pushed out. And we’ve seen the continued pace of technological and regulatory change have a massive impact on business models and markets.
The world we live in is dynamic and many of the traditional boundaries that once governed the way organisations do business are being replaced by new and often uncertain ones. The decision that has been taken for the UK to leave the European Union is one such fundamental change.
There is the potential for boundaries to be resurrected between the UK and our nearest trading partners, where none have existed for over 30 years. This has the potential to create additional costs and introduce friction into business’s supply chains and potentially reduced access to the skills they require.
BDO supports the Fast Track 100 league table because we are passionate about working with fast growing and entrepreneurially spirited businesses to help them navigate all this change. We see ourselves as the home of the entrepreneur. We also want to see the UK succeed. Yet despite the continuing uncertainty in the UK and wider world, the Fast Track 100 companies have deliver exceptional revenue growth performance over the last three years – we celebrate their success as key parts of the economic engine that drives much of the growth we see in the UK economy.
But no one is immune to the goings on in the wider world which is why we took the opportunity to survey some of these entrepreneurial business at the Fast Track Conference and Awards Dinner (25 May), about the impact of external events on their business.
Top 3 survey results
- 68% either agreed or strongly agreed that that UK’s Brexit negotiations will have a negative impact on their business.
- Continuing to have access to people with the right skills – with 50% of the vote – topped the list of biggest businesses concerns.
- Finally, in their view, the one thing that the Government can do to help your business flourish is stay within the EU single market.
With no party having an overall majority in the House of Commons and therefore the possibility of a period of politics driven by consent and cross-party deals, it is important now more than ever, that policies reflect the needs of high growth entrepreneurial businesses, to allow them to continue to flourish in these uncertain times – providing the economic stability that this country needs.
Stuart Lisle is a Tax Partner at BDO