Brexit Britain growing faster than France and Germany in major boost for UK economy

Mark Dolan slams European Parliament over Brexit claims

We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info

More than two-thirds of British businesses expect to grow this year, a higher figure than seen by France and Germany, the EU’s largest economies. According to a report from accounting technology firm Sage, 68 percent of UK-based small and midsize businesses (SMBs) expect growth in 2022. In Germany, 57 percent of SMBs expect to grow, while in France this figures sits at 62 percent.

In the UK, SMBs represent 61 percent of UK jobs and 52 percent of GDP.

Barry Leahey, managing director of Playdale Playground, said his firm – which has 100 staff and has constructed 24,000 playgrounds in 51 countries – expects to grow by 15 percent this year.

He said: “Of course we were affected by Covid, we shut manufacturing for five weeks and at one point had 70 percent of all staff furloughed.

“But last year we were almost back to pre-Covid levels and this year we expect to grow by 15 percent.

“With restrictions lifted, we are back on a plane and doing business face-to-face around the world.

“I would say to people who don’t think they can trade internationally after Brexit, it’s a mindset.

“If you want to be a victim and come second then don’t start.

“If you want to be top of your game as a business then it’s like being an athlete and you have to put in the work.”

The report also showed that 43 percent of UK companies expect an increase in revenue in the next six months, compared to 39 percent in France and Germany.

This comes as businesses across the UK have faced disruption as a result of COVID-19 restrictions and Brexit red tape.

But there is a growing sense of optimism, with 47 percent of business leaders expecting issues with imports and exports to ease this year.

Just 27 percent believe that the issues will worsen.

DON’T MISS: 
Putin has rug pulled from under him as oligarchs break rank on Ukraine [INSIGHT] 
Ukraine army claims Russian troops ‘ready to surrender’ in Chernihiv [REPORT]
‘Thousands’ of Britons could head to Ukraine to fight Putin’s Russia [REVEAL]

There is also optimism surrounding the pandemic, with 61 percent of British companies expecting Covid pressures to ease this year compared with 47 percent in France and 44 percent in Germany.

One-third of German SMEs cited Covid-related issues as being the biggest threat they currently face.

Just a quarter of British businesses and 26 percent of French businesses said the same.

The report also shows that two-thirds of British small and medium-sized enterprises (SMEs) are satisfied with productivity levels.

This is higher than the figures for France and Germany, which are 52 and 51 percent respectively.

Source: Read Full Article