Fintech firm iwoca has recently indicated that ten years after the 2016 Brexit referendum, many UK small and medium-sized enterprise leaders are advocating for stronger economic connections with the European Union. Fresh polling from iwoca, a European lender focused on financing for smaller companies, shows widespread support for rebuilding trade relationships, even if that involves accepting additional EU rules.
The survey, which gathered input from more than 1,000 SME owners and managers across the UK, found that 74% believe Britain should pursue a closer trading partnership with the EU.
Only 18% disagreed. Six in ten respondents said they would support such closer ties even if it required complying with more European regulations.
When asked how they would vote in a new referendum on EU membership held today, 62% indicated they would choose to rejoin, while 29% preferred to stay outside the bloc.
This sentiment appears consistent nationwide. At least half of SME leaders in every UK region backed rejoining.
In Wales, where 53% voted Leave in 2016, support for returning now stands at 69%, matching levels in London.
Across England, 62% of business owners favored rejoining, with 30% opposed.
The research also examined views on Brexit’s practical effects. Just 16% of respondents reported any positive impact on their operations.
More than twice as many—35%—described the outcome as negative, while 44% saw no meaningful change.
Among those who felt harmed, the most frequent concern was an increase in rules and compliance requirements, cited by 55%.
Nearly half (45%) pointed to greater difficulty hiring staff from EU countries, and 43% said exporting goods and services had become more challenging.
Christoph Rieche, CEO and co-founder of iwoca, described the findings as a clear signal from Britain’s small business community.
He argued that anyone focused on economic growth should prioritize closer EU relations.
As the head of a British-German firm with offices in London, Leeds, Frankfurt, and Berlin, Rieche noted that business leaders on both sides of the Channel observe the same realities daily.
He emphasized that the economy tends to favor practical solutions over political ones, and that SME owners simply want stable conditions to recruit talent, conduct trade, and expand—conditions he said Brexit has not yet delivered after a decade.
These results highlight a pragmatic shift among smaller UK firms.
While the original Brexit debate often stressed greater regulatory independence, many businesses now appear willing to trade some of that flexibility for smoother access to European markets.
The consistent regional support suggests the desire for improved trade links is not confined to any single part of the country.
As discussions about future UK-EU arrangements continue, the poll underscores the economic priorities of the businesses that form the backbone of the British economy. The iwoca update has concluded that with many SMEs reporting ongoing friction in hiring, exporting, and regulatory compliance, the appetite for closer cooperation appears driven by day-to-day operational needs rather than abstract political goals.