European-led SMEs growing twice as quickly as British counterparts
04 Oct 2017
Research by international money transfers business Opal Transfer, shows that Europeans are taking advantage of the UK’s pro-business environment, with European owners of UK SMEs seeing growth twice as quickly as companies owned by a British CEO.
A sample of more than 4,000 businesses found that those SMEs run by a European increased their turnover by 10.5 per cent from 2014/15 to 2015/16, whilst those run by a British director grew at a more modest 4.5 per cent.
Whilst European entrepreneurs have played a big role in creating jobs and helping to grow the UK economy, uncertainty following the Brexit vote has left them questioning what the future holds.
Gita Petkevica, Managing Director of Opal Transfer, comments: "Talented Entrepreneurs should be encouraged and welcomed to the UK, regardless of where they are from.
"The UK has so far attracted the pick of the world’s entrepreneurs. Let’s not put that enviable position at risk.
"The UK business environment has enabled many of these businesses to flourish. It is important that the UK government continues to put forward policies that encourage the best in Europe and around the world to create businesses and jobs here."
At Beavis Morgan, our specialist advisers to UK SMEs are able to assist with all aspects of business performance including ensuring that adequate measures are put in place to protect the health of your business, both now and for the future.
We are also able to identify business opportunities for investors looking to enter the UK market. And provide a comprehensive range of professional services to help you make the most of your investment in the UK.
Contact Steve Govey or your usual Beavis Morgan Partner for further information about how we can assist.