37% of Small Businesses Felt No Positive Impact From Osborne’s 2015 Budget Initiatives
Only 9% of UK small business owners believe Osborne has done enough to support them with many now disillusioned with politics
More than one in three (37%) small businesses don’t believe that the initiatives introduced by George Osborne in last year’s budget had an impact on their business, a report by MarketInvoice has found.
The survey of 1,000 small enterprises found that just 36.5% believe their fortunes improved from the chancellor’s 2015 measures and only 6% of business owners said they had “improved a lot.”
What’s more,only9% of the business owners surveyed said they believed the chancellor had done enough for small business in the UK.
Osborne’s pledge to establish new enterprise zones (67%) and set the annual investment allowance at £200,000(63%) were the measures cited by businesses as having had the least impact.
27% said they believed the national living wage had the biggest effect on their business, while 26% said the enforcement of pension schemes had impacted their business. Yet, while business owners said these measures had had an impact, less than 40% felt the impact had been a positive one.
Small enterprises appear to be disillusioned with politics in general, with 40% having claimed that their views are not represented by the main political parties.
Whilst Osborne’s own Conservative party is most popular amongst small businesses, still only one in four believes they are the best party for small business.
Anil Stocker, MarketInvoice CEO, said:
“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’s has found it so difficult to create a better environment for them to grow.”