UK Businesses Optimistic that Growth will Continue
Senior business leaders rank infrastructure investment as the top business issue that the new government needs to tackle
Over two third (78%) of business owners believe conditions for growth in the UK will continue to improve over the next quarter, according to a report by the Business Growth Fund (BGF).
Improved roads, rails and runways were named as the main business issue, with 25% of business owners calling for Cameron to increase infrastructure investment over the next three months.
This was followed by tackling employment issues, with 19% of entrepreneurs calling for more accessible employment policies and improved apprenticeships.
The report, part of BGF’s Growth Climate Index, also found that businesses are keen to capitalise on growth – 92% of respondents said they intend to pursue forecasted growth by investing in sales, marketing, attracting finance and exporting.
The UK’s uncertainty in the EU was also highlighted in the report with the majority of business leaders (82%) of the beliefthat the UK’s membership in the EU is good for business and 88% emphasising the importance of the EU export market for expansion plans.
80% of business owners also believe that another Scottish Independence referendum would have a negative effect on business in the UK.
BGF chief executive, Stephen Welton, commented:
“Small and mid-sized businesses are the backbone of our economy – we need to listen to their needs to create a strong growth environment.
“British businesses need to focus on doing what they do best – innovating, exporting and being as ambitious as they can be. This poll exclusively sought the views of senior business people, who are committed to, and passionate about, supporting Britain’s most ambitious small and mid-sized businesses. Entrepreneurs are more confident about pursuing long-term growth in the UK, rather than selling out early.”