Question to the Department for Exiting the European Union :

To ask the Secretary of State for Exiting the European Union, with reference to the Government's paper entitled, Implications for Business and Trade of a No Deal Exit on 29 March 2019, what estimate he has made of the number of SMEs that would become financially distressed as a result of the UK leaving the EU without a deal.

We have been clear that leaving the EU with a deal remains the Government’s top priority. The paper ‘Implications for Business and Trade of a No Deal Exit on 29 March 2019’ explains that leaving the European Union without a deal on 29 March 2019 would have a variety of effects on business, trade and the economy, and despite government mitigation, the impact of a 'no deal' scenario is expected to be significant in a number of areas. As a Government, we do not want ‘no deal’, however it is only prudent that we ensure businesses are as prepared as possible for every outcome.

The priorities and concerns of SMEs are taken seriously by Government. DExEU Ministers have attended the SME Advisory Board, chaired by BEIS. We are providing guidance to business to assist with their preparations, through a public information campaign on the radio, via social media, in print, with out-of-home advertising such as billboards, and we are developing TV advertisements, to ensure that all are aware of our preparations guidance on GOV.UK.