The majority of British businesses do not see Brexit as a major cause for concern, according to a report by the Bank of England.
Just 37 per cent of bosses said leaving the European Union was one of the top three sources of uncertainty for their business.
The Bank also reported a rise in retail sales, boosted by demand for summer clothes and shoes, and an increase in factory output amid ‘robust’ growth in exports.
The findings further undermine claims by big business and the pro-Brussels CBI that Brexit anxiety among companies was holding back the economy.
‘Relative to a year earlier, slightly fewer firms saw Brexit as an important source of uncertainty, although these changes have been modest,’ the report said.
Small and medium-sized firms account for 99.9 per cent of private businesses in the UK and employ 16 million people, or 60 per cent of the private workforce.