Almost 70% of SMEs do not expect that the UK’s upcoming general election will have a positive impact on their business, according to Aldermore.
In its ‘SME future attitudes’ report Aldermore found that just 32% of SMEs expected the election to positively impact their business.
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The survey of over 1000 SME decision leaders found that 90% intended to vote, and the majority did not expect their confidence in how the economy is run after the election to increase over the next 12 months, with just 39% expecting it to rise.
A third of SMEs stated that simplification of tax and financial account submission processes was what they would most like to see from the new government after the election. A further 30% sought a cut in red tape and bureaucracy for small businesses, and 22% wanted support to ensure continued economic growth.
Carl D’Ammassa, group managing director, business finance at Aldermore, said that government support would be particularly important due to Brexit.
He said: “As a lender focused on supporting SMEs of all shapes and sizes, we are obviously keen that the new government creates the conditions that SMEs need to thrive.
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By GlobalData“Given the significant contribution to the UK economy made by SMEs, such support will be particularly important as the country makes its preparations to leave the EU.”
