UK AND EUROPEAN BUSINESS LEADERS WANT UK TO STAY IN EU

A new survey by The European Business Awards sponsored by RSM, shows that 86% of European business leaders*, think the UK should stay in the EU, and 11% think it should exit.

The data when separated shows that 90% of European business leaders from countries outside the UK think the UK should stay in the EU and 5% think it should leave, whilst 75% of UK business leaders believe the UK should stay and 23% think it should exit.

The survey, which included business leaders from 32 countries across Europe, also shows that the majority believe a UK exit would have a negative impact on all concerned.

Overall 76% of business leaders believe that a UK exit would have a negative impact on the UK economy, and 84% believe it would have a negative impact on the EU. Additionally 67% of business leaders outside the UK believe it would have a negative impact on their own country’s economy. In the UK specifically the data shows that 69% believe it will negatively impact the UK economy and 76% believe it will have a negative impact on the EU.

One of the main reasons cited by UK respondents to stay in the EU was the economic advantages brought by membership, including a strong trading position, free market, access to skilled workers and greater commercial opportunities. Reasons provided by the other European countries included the important role the UK can play to influence the EU and counter larger countries.

Wider reasons from all for staying focused on the competitive position a united EU has against China, Russia and the US, and the importance of integration, stability and unity in the current climate. UK respondents who believe that the UK should exit the EU cited high costs, bureaucracy, damage to the UK’s identity and a lack of belief in the EU as the main reasons.

Adrian Tripp, CEO of The European Business Awards said: “These strong results show that for the European business community the case for the EU is clear; the benefits far outweigh the costs. From a business perspective, people see the value in the commercial opportunities; from a wider perspective, stability and integration are key.”

He continued: “At the European Business Awards we the see the benefits of the EU on a day to day, firm to firm, country to country basis. It creates economic opportunities, breaks down barriers and builds understanding. A united European business community is integral to a safer future for all of us.”

The survey conducted by The European Business Awards, Europe’s largest business competition now in its 9th year, and supported by RSM since its inception, also asked business leaders their view of the value of EU membership. The findings show strong support for the EU with 84% of business leaders across Europe believing that their country’s membership of the EU has a positive impact on their business, their country (83%) and them personally (79%). Furthermore 67% business leaders believe they have a role to play in promoting the EU to their country’s wider population.

Jean Stephens, CEO of RSM, the 7th largest network of independent audit, tax and advisory firms, said: “The Eurozone is the biggest trading partner for the United Kingdom and the potential impact of the UK exiting the EU would be highly significant to our clients around the world. This survey clearly shows that European and UK business leaders feel strongly that Europe must maintain its competitive edge in the global marketplace and that the UK’s membership is key to doing so.”

The European Business Awards’ primary purpose is to support the development of a stronger and more successful business community throughout Europe. For further information about the European Business Awards and RSM please go to www.businessawardseurope.com or www.rsmi.com.

About the survey:

• 437 European Business leaders from 32 European countries took part in this survey, including 124 from the UK, representing over 25 sectors with heaviest representation coming from IT and Technology, Manufacturing and the FMCG sector.

• *Respondees were business heads of companies who have been recognized and rewarded by The European Business Awards, which has a strict criteria for entry in the criteria of financial success, growth, ethics and innovation • Sizes of company ranged from SMEs to big multi-nationals • Detailed statistics and the written responses are available for use

• 170 of the business leaders involved in the survey are available for comment For further press information or for interviews with key spokespeople, please contact:

EBA: Vanessa Wood at the European Business Awards on +44 (0) 796 6666 657 or email vanessa.wood@businessawardseurope.com

RSM: Gillian Hawkes at the RSM Executive Office (gillian.hawkes@rsmi.com) or Cubitt Consulting: Rose Schreiber (Rose.Schreiber@Cubitt.com)

About the European Business Awards:

The European Business Awards’ primary purpose is to support the development of a stronger and more successful business community throughout Europe. For all of the citizens of Europe, our prosperity, social and healthcare systems are reliant on businesses creating an even stronger, more innovative, successful, international and ethical business community - one that forms the beating heart of an increasingly globalised economy.

The European Business Awards programme serves the European business community in three ways:

• It celebrates and endorses individuals’ and organisations’ success

• It provides and promotes examples of excellence for the business community to aspire to

• It engages with the European business community to create debate on key issues

The European Business Awards is now in its 9th year. It attracted over 24,000 businesses to the competition last year and in the public vote generated over 150,000 votes from across Europe. www.businessawardseurope.com.

About RSM International

RSM International is the 7th largest network of independent audit, tax and advisory firms, encompassing over 112 countries, 700 offices and 37,400 people internationally. The network’s total fee income is US$4.4 billion. RSM is the 6th largest provider of tax services and audit and accounting services worldwide.

RSM International is the lead sponsor and corporate champion of the European Business Awards promoting commercial excellence and recognition of entrepreneurial brilliance.

RSM International is a member of the Forum of Firms. The objective of the Forum of Firms is to promote consistent and high quality standards of financial and auditing practices worldwide.

RSM is the brand used by a network of independent accounting and advisory firms each of which practices in its own right. RSM International Limited does not itself provide any accounting and advisory services. Member firms are driven by a common vision of providing high quality professional services, both in their domestic markets and in serving the international professional service needs of their client base. www.rsmi.com