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Small businesses feel ignored by political decision making

7th Dec 16 11:22 am

New research finds

Be it the EU referendum or the US elections, this year has been a very crucial year in the world of politics.

However, small businesses feel ignored by their countries political decision making.

According to new research by Sage, 63 per cent of small businesses globally said they were unaware of government efforts to fight their corner or felt under-represented by politicians.

Sage’s research – which took in the views of over 5,500 entrepreneurs across 19 countries worldwide – also found that businesses in the UK are concerned about the global economy with 61 per cent considering it is less stable than six months ago, yet 40 per cent haven’t done anything to safeguard their businesses against this instability.

Key findings

  • Business confidence is comparatively low in the UK. Just 37 per cent feel positive about their business’s prospects over the next six months, compared to a global average of 52 per cent.
  • The top three concerns for UK businesses are currency fluctuations (19 per cent), bureaucracy (16 per cent), and joint thirdly lack of relevant skills and access to funding (both 11 per cent), demonstrating the knock-on effect Brexit could be having.
  •  However, Brexit provokes a mixed reaction from UK small businesses. Although 38 per cent say it will have a negative impact on their business, 35per cent of say it will have a positive impact. 
  • In line with the global outlook, almost half of UK small businesses (49 per cent) believe that the Government can best help them through business support e.g. export opportunities, grants.

Stephen Kelly, CEO of Sage said: “Business builders are the heroes of the economy – working night and day to create two thirds of all new jobs in most developed economies. But so often, when the world’s policy makers discuss the economic picture, these entrepreneurs are excluded from the discussion. They toil away long after the rest of us have gone home, making personal sacrifices to grow their businesses, to support their families and their communities – especially during the busy holiday season.

“Sage is launching the Forum for Business Builders, and is holding events like today’s to make sure the issues facing the world’s small businesses are recognised, debated and resolved.”

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