Westminster’s Brexit obsession is the biggest danger for SMEs

While the House of Commons increasingly becomes an echo chamber, thank goodness that outside of Westminster life continues for UK business and the 5.7 million small and medium-sized firms (SMEs) which form the backbone of the economy. Brexit uncertainty is a concern for many of them, but eyes remain fixated on progress and the future, not politics.

Brexit has become an immoveable impasse in public discourse, a distraction from the really important challenges and opportunities that the UK and Ireland face. Whilst the chaos prevails, business has become an afterthought for the custodians of the economic success of the country. The lack of focus on any other issue over the last three years has now put the country on an economic cliff-edge.

Last year, the UK economy grew by a mere 1.4%, down from 1.8% in 2017 – the joint weakest year for Britain since the financial crisis. Worse yet, in the final quarter of 2018, the economy contracted to just 0.2%