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90% of Small businesses unhappy with Budget 2010
Added: 2010-03-30 15:41:55.0The highly anticipated Budget was announced last week and small business owners were as keen as ever to find out how it would affect them and their business. However, having digested the Chancellor’s proposed measures, it would seem that the vast majority are unhappy with its ramifications.
A survey conducted by the Forum of Private Business revealed that an overwhelming 95% of business owners believed that the Government’s measures will create an environment that will make it difficult for their business to develop.
Again, a large majority of 87% said that the Chancellor’s measures will not be enough to increase business and consumer confidence.
Other highlights of the findings revealed that:
- 70% of respondents felt that this Budget was a political device used in light of the upcoming general election; and that the ‘real’ Budget could be expected after the election.
- Only 10% of the Forum members deemed the Budget to be ‘good’ or ‘very good’ for small businesses, with 52% branding it as average and 38% saying that it was ‘poor’ or ‘very poor’.
- 45% believed that the Budget (which includes the controversial National Insurance hike) would have a negative impact on employment.
Chief Executive of the Forum, Phil Orford, said of the findings: "This research appears to support our initial assessment of the Budget – overall, it fell far short of what we were hoping for and there was a sense that it was very much a Budget for the election.
"Judging from the feedback our members have given us, smaller firms don't feel that the Chancellor laid the foundations for a better environment in which to do business. At the same time, they're not taking the Budget too seriously because of the imminent election.
The survey results echo the seemingly growing dissatisfaction with the Labour Government amongst business owners. However, it was not all doom and gloom as some of the Chancellor’s initiative did have some positive feedback from the Forum members.
19% of respondents believed that the Chancellor’s proposals would have a positive effect on cash flow support and business investment. Added to this was the 14% who thought that the Budget would improve access to finance.
Most importantly for Mr.Darling, only 9% of Forum members believed that Chancellor’s measures are designed to encourage short-term recovery.
How do you feel about the Budget? Do you think that it is good or bad for your business? Has it made you think differently about who you will vote for in the upcoming general election? Let us know by commenting below.
The content of this blog is not legal advice and should not be relied on as such, or used instead of seeking legal advice.
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