Business owners consider relocating

A WAVE of higher taxes, escalating costs and bureaucratic red tape is prompting small business owners across the UK to consider relocating, according to recent data.

- BY MAURICIO ALENCAR

Almost 40% of small and medium sized enterprise (SME) owners have either already left the UK or are contemplating an imminent move, a new survey reveals, a trend that could potentially drain the country of its entrepreneurial vigour.

The majority of those considering relocation plan to do so within the next two years, signalling a potential brain drain crisis on the horizon.

The survey, commissioned by Handelsbanken Wealth & Asset Management and involving 200 business owners, found that approximately half were attracted by better financial conditions abroad.