Company owners pessimistic about growth
Apr 11 2011
Businesses feel the Budget has done relatively little to affect their growth prospects
More than half of small business managers expect their company to ‘stay about the same size’ in the next 12 months.
According to a study of 500 companies, commissioned for self-storage company Safestore, 54 per cent of firms surveyed say measures announced by Chancellor George Osborne in last month’s Budget will make no difference to their growth prospects, with 26 per cent thinking it will even make it harder for them to grow.
Some 22 per cent say that the measure to ensure no new regulation for firms with less than ten employees for three years is the most advantageous.
This is followed by the business rate relief holiday being extended for a year (12 per cent) and fuel duty to be cut by one pence (12 per cent).
Peter Gowers, CEO of Safestore says, 'Small businesses clearly remain cautious about trading prospects. They want to grow and are doing what they can to keep on top of costs. What they need from the government is more help to reduce the burden that lies beyond their control - taxes, rates and regulation.'
Federation of Small Businesses national chairman John Walker adds, ‘This research ties in with findings from a Federation of Small Businesses survey which showed that small firms feel that while the measures announced in the Budget will do no harm – it won’t help them either.’
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