Businesses want new government to cut red tape, poll shows

Two NatWest branches will close in November
Two NatWest branches will close in November
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A survey has revealed what businesses in the South East want from the new government.

Three in ten small to medium-sized business owners (SMEs) said the Tories should reduce red tape, banking group Close Brothers’s poll showed.

A spokesman said 18 per cent wanted ministers to tackle late payments. 16 per cent called for a freeze on business rates. Eight per cent said they wanted help accessing finance from the Government.

Mike Randall, CEO of Close Brothers Asset Finance, said: “The economy was a major focus for all of the main parties in the run up to the election, with the importance of SMEs recognised in terms of the role they will continue to play as the economy recovers.

“Our survey asked small and medium sized business owners what the most important issue was for the government to tackle on their behalf, and the majority response across each English region was a reduction in administrative burdens, or ‘red tape’.”

More than two fifths (44 per cent) of the businesses polled stated their trading conditions were improving.

Thirty-eight per cent expected to expand in the next 12 months.

Mr Randall added: “The Enterprise Research Centre recently released statistics that show SME growth and start-up rates to have returned to pre-recession levels, which is incredibly positive news.

“It is essential that we continue to support them in whatever way possible. Given that 99 per cent of businesses in the UK are classed as SMEs, it is in all of our interests to do so.”

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