The Chancellor presented his Budget last week and industry and society have been left analysing what the after effects of this Budget will be. Now, the Forum of Private Businesses has conducted a snap poll which has found that 95% of smaller businesses feel disappointed by last week’s budget. Only 5% of respondents feel that their businesses can develop under the conditions laid out by Mr Darling. A further 87% actually stated that these conditions will do nothing to increase consumer and business confidence despite a thriving business community being a priority due to the country struggling to recover from recession.
Speaking about the results of their snap poll, chief executive Phil Orford commented: “This research appears to support our initial assessment of the Budget – overall, it fell far short of what we were hoping for and there was a sense that it was very much a Budget for the election. Judging from the feedback our members have given us, smaller firms don’t feel that the Chancellor laid the foundations for a better environment in which to do business. At the same time, they’re not taking the Budget too seriously because of the imminent election.
He concluded: “However, there were some specific measures included in the Budget which should help some SMEs – things like the creation of a credit adjudicator for small firms, the extension to HMRC’s Time to Pay scheme and new targets aimed at helping small businesses get more public sector contracts. As long as they are administered properly, these schemes should provide tangible, on-the-ground support to smaller firms and the Forum’s members appear to appreciate that.”