91% of small businesses say Osborne hasn’t “done enough” to help them
Damning verdict ahead of next week's budget as 37% of small firms claim the chancellor's 2015 measures had little or no impact on their business
The vast majority of the UK’s small and medium businesses (91%) believe that measures brought in by George Osborne in last year’s budget did not do enough to support them, according to a survey published by MarketInvoice today.
Analysing 1,000 UK small firms, 37% of entrepreneurs said the chancellor’s 2015 initiatives had no impact on their business whatsoever; rising to 45% among businesses with fewer than 50 employees.
Measures introduced in the 2015 budget such as the creation of new enterprise zones and an annual investment allowance of £200,000 were cited by 67% and 63% of small business owners as having had ‘no impact all at’ on their business.
On the flip side, business owners cited the increase in the national living wage and the introduction of auto-enrolment as having had the biggest effect on their business but less than 40% said these measures had been positive.
The survey also indicated that small and medium enterprises are becoming increasingly disillusioned with politics; only 40% felt their views were represented in Parliament.
With Osborne’s 2016 budget set to be announced next week, MarketInvoice CEO, Anil Stocker, said the research highlighted the need for government to do more for small businesses:
“One year on, and it looks like last year’s budget missed the mark. Given small businesses represent such a large proportion of our economy it is concerning that the government has found it so difficult to create a better environment for them to grow.
“If the government really wants to be on the side of small businesses, it’s going to need new ideas that actually make a difference on the ground.”