Almost 70% of SMEs do not expect that the UK’s upcoming general election will have a positive impact on their business, according to Aldermore.
In its ‘SME future attitudes’ report Aldermore found that just 32% of SMEs expected the election to positively impact their business.
The survey of over 1000 SME decision leaders found that 90% intended to vote, and the majority did not expect their confidence in how the economy is run after the election to increase over the next 12 months, with just 39% expecting it to rise.
A third of SMEs stated that simplification of tax and financial account submission processes was what they would most like to see from the new government after the election. A further 30% sought a cut in red tape and bureaucracy for small businesses, and 22% wanted support to ensure continued economic growth.
Carl D’Ammassa, group managing director, business finance at Aldermore, said that government support would be particularly important due to Brexit.
He said: “As a lender focused on supporting SMEs of all shapes and sizes, we are obviously keen that the new government creates the conditions that SMEs need to thrive.
“Given the significant contribution to the UK economy made by SMEs, such support will be particularly important as the country makes its preparations to leave the EU.”