Critical Success Factors for SMEs in the UK Chemical Distribution Industry: The ‘Brexit’ Effect

Small and medium-sized enterprises (SMEs) have a strong presence in the UK chemical distribution industry, a major contributor to the UK economy and employment. Brexit, more a phenomenon than a singular event, has irreversibly altered the political arena and introduced an era of uncertainty and volatility. Such a radical occurrence has increased the number of factors critical to success and has thus created a far more complex and challenging environment for UK SMEs to operate in. A distinct shift is noted and certain factors, namely the political environment, financial resources and internationalisation, previously not considered critical are now deemed as highly influential in the success of small businesses in the chemical distribution industry. Regulatory compliance and human capital remain critical, but with their importance reinforced.