British ‘no to euro’ blow to small companies

SMALL businesses will be hardest hit by Britain’s decision not to join the euro, ISME warned last night.

In a recent survey, 53% of ISME clients said a decision by Britain to stay out of the euro would have a negative impact on their business performance.

One in four said it would threaten jobs which were already under fierce pressure due to the global economic downturn, and the loss of Irish competitiveness aggravated by high inflation, soaring insurance costs and steep wage increases.