Two thirds of SMEs do not expect Wednesday’s autumn budget announcement to address their needs, according to Aldermore’s Future Attitudes survey.
Although businesses did not have high hopes when it came to SME policies announcements, they did cite a number of topics that they would like to be covered. These included: higher government investment in businesses (29% of respondents), preparation for a “no deal” Brexit (26%) and business rate relief (21%).
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Departure from the EU was a great source of concern, with 70% of business calling for more information and guidance over Brexit’s transition period.
Nevertheless, firms did not seem to regret the country’s choice in June of last year, with almost a quarter thinking Brexit will have a positive effect on business, almost half declaring themselves “happy” to leave the EU.
Carl D’Ammassa, group managing director for business finance at Aldermore, said: “This week’s Budget provides the perfect platform for the government to highlight its backing and support for the small business community in the UK. SMEs are the backbone of the economy and it is vital they are given all the help possible given the current political and economic uncertainty.
“Business owners are still unsure how Brexit negotiations will play out, and it is not surprising their views and opinions are divided when it comes to the impact it will have on them. With this widespread uncertainty in mind, we urge all business leaders to spend time focusing on putting specific procedures in the place that will hopefully shield them from any and all negative outcomes that may come their way over the coming years.”
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