Small businesses remain unconcerned about the prospect of further expansion of the European Union (EU) and may even be benefiting from it, a new survey suggests.
Research released today by AXA Group, shows that 75% of Britain’s small businesses owners think that expansion of the EU will have no impact on their firms, while 9% are benefiting from the growth.
In fact, a quarter of businesses are more concerned about competition from Asian markets than from an enlarged Europe.
However, the research did highlight ongoing concerns about the legislative impact of greater involvement in Europe.
Of those questioned 48% felt that increased EU legislation was bad for business, while 28% saw lower wage cost competition in Europe as further bad news.
Olivier Mariee, marketing director at AXA, said: “Our research does paint a mixed picture of small business attitudes to international trade.
“While a large number of businesses are clearly concerned not just by increased competition from within Europe but by growing pressure from Asia, it would be wrong to say this is a universally held fear.
“There are clearly very many businesses embracing international trade, trying to create an opportunity out of an inevitable enlargement of both the EU and greater involvement of Asia.
“However, there is plenty of scope for much more action from Britain’s small business to capitalise on international export markets.”
© Crimson Business Ltd 2006
