Axis for Business has learned that new evidence suggests over half of SMEs are disillusioned with government.
SMEs Need a Stable Economic Environment to Thrive
As an energy and telecoms supplier who seeks to provide quality service to small business throughout the UK, Axis for Business understands that in order to grow profit margins, SMEs need to save money.
Yet a small business can implement all the money saving tips it likes, if they don’t have a favourable economic environment to facilitate growth, expanding profit margins will prove an uphill struggle. Considering the fact that the government is responsible to providing that favourable economy, it’s alarming that over half of SMEs are dissatisfied with both local and central government.
A Poll of 2,000 SME Owners Shows Dissatisfaction with Government
Startups.co.uk recently reported that a new poll of 2,000 small business owners by Simply Business, shows that SMEs are dissatisfied with all areas of government.
Alarmingly, the poll went on to find that in 33% of cases, micro business owners were of the opinion that government had actually prevented their companies from growing. When asked what it was about government policy that hindered growth, 33% highlighted administrative red tape as a serious issue. Other issues included changes to overheads (25%), energy prices (25%) and access to finance (21%).
Government Support is Passing SMEs By
Jason Stockwood, the CEO of Simply Business, took time to comment on the survey, and what it means going forward. Stockwood said: “Sole trader and microbusinesses are the very heart of the UK economy, and it is these firms that are driving the country back to growth. But these firms are not getting the support they need.
“The government is designing policies according to what it believes small businesses need, but because of the specific set of challenges and risks faced by sole traders and micro businesses, government support is passing them by.”
Small Businesses Need Government Support to Survive and Thrive
Stockwood’s right. SMEs need the government on their side to ensure they increase their profit margins. The fact that they don’t feel that the government policy benefits their growth, suggests that it needs to do more to provide small businesses the help they need to survive and thrive.