A NEW report is calling on policymakers to help SMEs prepare for Brexit.
Research led by Dr Oliver Mallett, an associate professor in work and employment at the University of Stirling, looked at how regulations affect SMEs.
The report identifies that stability is important for many SMEs, highlighting the need for reliability and continuity of regulation.
But it says Brexit has created the possibility of significant turmoil and, despite government reassurances, owner-managers and entrepreneurs are likely to need support to reduce uncertainty and ensure confidence in their regulatory compliance.
“Post-Brexit, the perceived potential for widespread regulatory change, uncertainty and instability is likely to undermine confidence amongst SME owner-managers,” said Dr Mallett.
“As the UK Government and others seek to develop a ‘better regulation’ agenda, it is vital to consider the full range of effects regulations can have on SMEs, including the beneficial effects.”
He said monitoring, negotiating, and adapting to changes, were all vital skills that went beyond regulation, and that regulatory compliance had been found to improve management practices within SMEs.
“Better regulation for SMEs may therefore not reside in the quantity of regulation, or how it is written, but how it is taken up in the processes involved in its effects,” he said.
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