Brexit countdown: Half of SMEs expect profits to fall

Almost half of small and medium-sized firms expect their profits to fall as a result of Brexit, according to a survey of employers in the sector.

The research, conducted by Isme, the Irish Small and Medium Enterprises Association, finds that one in six such companies expect some reduction in staff numbers as a result of Britain leaving the EU.

Isme got replies from 1,416 of its members to the survey, carried out in the second week of March.