Thousands of companies in London and the South East are likely to collapse in the event of a no - deal Brexit , with more than 66,000 job losses predicted in London , according to business intelligence website Populous . World . Even if a deal is struck , 7,900 UK companies are expected to fail , with 41,800 jobs lost . Small and medium - sized firms are expected to be hit hardest , with closures potentially outnumbering start - ups for the first time since 2009 . The number of businesses closing in London in the year following the 2016 EU referendum dropped 14 % .
Thousands of companies in London and the South East are likely to collapse in the event of a no-deal Brexit, with more than 66,000 job losses predicted in London, according to business intelligence firm Populous.World. Even if a deal is struck, 7,900 London companies are expected to fail, with 41,800 jobs lost. Small- and medium-sized firms are expected to be hit hardest, with closures potentially outnumbering start-ups for the first time since 2009. The number of businesses created in London in the year following the 2016 EU referendum dropped 14%.