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May 15, 2015

What SMEs want from the new Government

What SMEs want from the new Government Less regulation, a simpler tax system and reformed business rates – these are the top priorities for small firms as they reveal what they want from the new Government in the first poll of SMEs since the election.

The survey by the Federation of Small Businesses (FSB) of over 2,000 FSB members has revealed that deregulation is at the top of the wish list for many firms.

When asked to name the issues that small businesses wanted the Government to focus on in the next five years, the top ten demands were:

  • Reduce regulatory burden (53%)
  • Introduce a more simplified tax system (51%)
  • Reform business rates (44%)
  • Improve the employability skills of young people (41%)
  • Deliver improved broadband and mobile connectivity (39%)
  • Help UK small businesses to create more jobs (34%)
  • Tackle late payments (33%)
  • Lower energy costs for businesses (30%)
  • Ensure better access to finance (28%)
  • Increase investment in infrastructure (26%)

The research also found that well over a third (35%) of the businesses questioned wanted a sustained economic recovery to be the top priority for the new Conservative Government in the next parliament.

Mike Cherry, FSB national policy chairman, said: "First and foremost businesses want stability and certainty. This requires putting public finances on a sound footing, and then for ministers to give a comprehensive vision for how they will support enterprise followed by a clear timetable for when they will deliver it."

FSB members were also asked to say how confident they are that the new Government will deliver for small businesses. Just over half (51%) said they were either confident or very confident. However, 28% said they were either unconfident or very unconfident.

Cherry said: "Today's wide ranging research sends a very clear message on what small businesses want from the new Government – a supportive, light touch tax and regulatory environment in which to grow their business, creating prosperity and jobs."

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