Brexit makes short leases more popular

Small and medium-sized enterprises (SMEs) are increasingly looking for shorter leases, prompted by fears that the government will not be able to secure a good deal for the UK in Brexit negotiations, research has revealed.

The quarterly Citibase Confidence Index found that just 35% were confident the government would secure a good deal, down nine percentage points on the previous quarter.

At the same time, lease lengths of one to three years have become increasingly popular, with 41% now favouring a short lease, up from 30% in just six months.

Citibase chief executive Steve Jude said that political and economic uncertainty caused by Brexit and a minority government was driving SMEs towards shorter leases and more flexible office space.

“These results are a wake-up call for the government,” he said. “SMEs are the lifeblood of our economy and it is essential to rebuild their confidence in the future for UK business.”

Related Articles

Have your say

Sign in to make a comment on this story.

Sign In

Text size

Desktop Site | Mobile Site