Uncertainty regarding the possibility of the UK leaving the EU, and worries regarding the introduction of auto-enrolment pension, are the joint top business concerns for UK companies according to research published by R3, the insolvency trade body.
When asked about topics which were of concern to them, 23% of business owners said that a possible ‘Brexit’ would have a significant impact on their business, whilst another 23% said they were worried about the impact of auto-enrolment pensions.
Other things causing concern to business owners are the introduction of quarterly tax reporting, with 19% of business owners concerned) and the introduction of the National Living Wage, which was of concern to 18% of those questioned.
Whilst the uncertainty over the referendum on whether to leave the EU is clearly causing concern amongst business owners in the UK, it is clear that there are several other issues which cause the same, or nearly as much, concern.
We see many businesses that are ‘hanging on’ in the hope that things will get better – and things sometimes do. But if your business is already under pressure and you are concerned that external factors could have a further detrimental effect on your business, it is crucial to take advice as soon as possible and to find out about the options that are available to you. Forewarned is forearmed, and the sooner that advice is taken, the more likelihood there is of rescuing a business or having a wider range of options to choose from.
If your business is under pressure and you are concerned about the future, call us today to find out how we can help.