small business government wishlist

UK Small Businesses Forced to Re-Mortgage in Order to Keep Afloat

UK Small Businesses Forced to Re-Mortgage in Order to Keep Afloat

The government may be failing the UK’s small businesses with 60% having to had to re-mortgage or use personal savings in order to keep their business afloat. According to new research by Sage, 84% of small and medium companies have never received any financial or other type of support. The research also found that small business owners are “forced” to work overtime in order to keep their firm running. 26% said they work over 50 hours a week while 56% admitted that they worked weekends and the same proportion said they failed to take their holiday entitlement last year. While 65% of British entrepreneurs said that they planned on hiring up to five employees in the next two years to help manage the workload, one in five said they worried about being able to pay staff. The survey also asked s... »