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Markets News

Hard Brexit won't hit us, 60% of Germany's small and medium-sized firms say

BERLIN, Oct 11 (Reuters) - Around 60% of Germany’s Mittelstand, the small and medium-sized companies that form the backbone of Europe’s biggest economy, see no impact on their business from a hard Brexit, a survey by Germany’s KfW state development bank showed on Friday.

The survey of around 2,000 firms with annual revenues of up to 500 million euros ($550.60 million) found that about a quarter of Germany’s Mittelstand expected a hard Brexit to disadvantage them.

The survey was conducted from 11 to 23 September. ($1 = 0.9081 euros) (Reporting by Michelle Martin Editing by Tassilo Hummel)

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