1.8m UK Jobs at Risk in Next 5 Years and Brexit is a Yes, says Survey

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1.8m UK Jobs at Risk in Next 5 Years and Brexit is a Yes, says Survey

Over 1.8 million jobs are at risk as 370,000 small businesses plan to cease trading over the next five years, according to a survey commissioned by business for sale marketplace, Bizdaq.

The research, conducted by Opinium, found that over 370,000 small businesses are planning to simply cease trading in the next five years, with these businesses employing 4.85 employees on average. A further 424,000 business owners plan to exit their business by selling within the next five years; selling being a method which is far more likely to protect jobs.

Of the 1.8 million jobs that could be affected, 370,000 of those will be within the next 12 months, as small business owners start to cease trading.

The survey found that business owners in London are most likely to be thinking about an exit within the next five years. 43% of London small business owners were considering an exit, whilst those in the East of England are happiest running their businesses with only 11% of owners considering exiting.

Interestingly the revenue of businesses didn’t have an impact on whether an owner was planning to leave – the East of England had both the lowest exit rate and the lowest average revenue, whilst the East Midlands – which had the highest average revenue – was second only to London for business owners looking to exit.

Small businesses slightly in favour of Brexit
Despite the EU referendum edging closer small business owners across the UK are still roughly split on the subject of whether to Brexit or not – 41% answered that the UK should stay, while slightly more at 44% answered the UK should leave, and 15% said they are still undecided. 

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