UK social enterprises fear loss of funds with Brexit, survey says

Monday, September 25, 2017

Optimism among British social enterprises has fallen sharply ahead of Brexit due to fears of loss of European funding, trade and labour, a survey said on Thursday.

One major worry is whether British entrepreneurs using businesses to tackle social problems will be eligible for European Union (EU) grants and technical support after Britain’s planned departure.

Uncertainty over Brexit is having a negative impact on business across Britain, coinciding with a slowdown in the wider economy and rising inflation.

“It’s worth noting that one in 12 social enterprises gets some income from Europe,” Nick Temple, deputy chief executive of Social Enterprise UK (SEUK), which represents the growing sector, said at a briefing.

Photo courtesy of skittledog.

Source: Reuters UK (link opens in a new window)

social enterprise