smallbusiness.co.uk: Helping your business think big

Nearly two-thirds of businesses say they are ‘concerned’ or ‘very concerned’ about the potential impact of a hung parliament, according to the British Chambers of Commerce (BCC).

David Frost, director general of the BCC, says: ‘Businesses are right to be wary about the prospect of a hung parliament. Instinctively, companies prefer a clear mandate to lead and govern. With our economy still fragile and the public finances in a dire state, the overwhelming concern is whether a hung parliament will provide decisive action around the UK’s unsustainable deficit.’

Of the 300 businesses polled by the BCC, 22 per cent were ‘not concerned’ about the prospect of a hung parliament and 13 per cent thought it would be ‘a good thing’.

Some 54 per say they expect VAT to increase after the election, 13 per cent excise duties and 12 per cent income tax.

According to a survey from XLN Telecom Group, the majority of small businesses say they will vote Conservative (50 per cent), followed by Liberal Democrat (18 per cent) and Labour (12 per cent).