With only a couple of months to go before the General Election 2015, owners of small and medium-sized businesses have a lot to consider when deciding who to vote for. But if a freshly-published report is anything to go by, many SMEs in the UK are confused about what impact the results could have on their businesses.
Despite most of the SME leaders surveyed in Zurich’s SME Risk Index (89%) saying they were interested to see what the General Election could hold for them, only 21% thought that the outcome would be positive.
While 12% were concerned about a negative result and 27% don’t believe there’ll be any real changes, the majority of those questioned (40%) admitted to not being sure either way about the impact the election results could have.
Jason Eatock, Head of the SME at Zurich, said: “Two months ahead of the general election, we wanted to take the temperature of SME attitudes towards the changing political situation and how it could affect them.
“Cutting legislation and red-tape is still the number one priority for UK SMEs, significantly ahead of other key issues such as late payment terms and access to finance. We hope that the post-election government, whoever they may be, will go some way towards easing the regulatory burden businesses face.”
SME views on the coalition government and the EU
The survey revealed that more than half of SMEs (54%) want the UK to remain in the EU and believe that an exit strategy would damage the economy. Around 33% were for the UK leaving the EU.
Views on whether or not the coalition government has had a positive effect on smaller businesses differed, but seemed quite encouraging with 38% of those surveyed believing the coalition has had a positive influence. Around a quarter (26%) think the impact of the current government has been negative, while 32% saying there’s been no real impact.
Let us know your SME views regarding the pending General Election on Twitter @TheInsuranceOct.