Peer2Peer Finance News
The UK's first peer-to-peer finance magazine for investors and the industry
  • Home
  • News
    • Personal Finance News
    • Industry News
    • SME News
    • Global News
  • Property
  • IFISA
    • IFISA Guide
  • Video
  • Open Banking
  • Cryptocurrency
  • Features
    • Joint Ventures and Promoted Content
  • Comment & Analysis
  • What is P2P?
  • Partners
  • Events
    • Past Events
  • P2P Power 50
    • Power 50 2020
    • Power 50 2019
    • Power 50 2018
    • Power 50 2017
  • Sign up to our e-newsletters
  • Magazine
  • Directory
  • Jobs
  • My Account
    • Manage Account
    • Change Password
    • Log In
    • Log Out
shutterstock_699530905
November 21 2017

SMEs doubt Budget will meet their needs

Partnership News, SME News Aldermore, Autumn Budget, Brexit, Budget, business relief, Carl D’Ammassa, SMEs

AROUND two-thirds of small- and medium-sized enterprise (SME) bosses do not believe this week’s Budget will address their concerns.

That’s according to the latest Aldermore Future Attitudes study, which surveyed more than a thousand decision-makers at small and medium-sized businesses across the UK ahead of Wenesday’s fiscal event, to find out what they are most keen to hear from the chancellor.

Around 29 per cent of SME bosses said they wanted the government to invest more in UK businesses, while 21 per cent hope to hear there will be a business rate cut or an increase in rate relief, and 18 per cent want some form of incentivisation for business growth.

Read more: Value of SMEs vastly underestimated

Undoubtedly Brexit is playing a central role in the thoughts of SMEs, with over seven in 10 calling for the government to provide more information and support to guide them through the transition period.

However, they are split on what the effect of leaving the EU will be. 24 per cent of respondents said they think Brexit will have a positive impact on their business, an increase from 19 per cent at the same time last year. Conversely, 27 per cent think it will have a negative effect, a similar percentage to a a year ago (26 per cent).

Read more: Entrepreneurs target funding in 2018

“This week’s Budget provides the perfect platform for the government to highlight its backing and support for the small business community in the UK,” said Carl D’Ammassa, group managing director of business finance at Aldermore.

“SMEs are the backbone of the economy and it is vital they are given all the help possible given the current political and economic uncertainty.

“Business owners are still unsure how Brexit negotiations will play out and it is not surprising their views and opinions are divided when it comes to the impact it will have on them.”

Read more: P2P sector urges chancellor to set bold housing agenda in Autumn Budget

Landbay now offering mortgages of up to 25 years Funding Circle borrowers back joining European Free Trade Agreement post-Brexit

Related Posts

nikhil-rathi-high-res

Industry News, News, Top 3

FCA boss defends appointment of new supervision and policy head

fca office

Industry News, News, Top 3

FCA pays FundingSecure investors due to delay in addressing complaints

Crypto currency background with various of shiny silver and golden physical cryptocurrencies symbol coins, Bitcoin, Ethereum, Litecoin, zcash, ripple

Cryptocurrency, Industry News, News, Top 3

Aave’s marketplace surpasses $5bn in liquidity

Popular posts:

  • The House Crowd goes into administration
  • Sunak to announce stringent CBILS successor scheme
  • Octopus Choice has permanently closed
  • Metro Bank plans to offer RateSetter lending through…
  • RateSetter confident of growing Metro Bank’s…
  • FCA warns The House Crowd investors against using…
Back To Top
  • Home
  • Contact
  • About
  • Team
  • Advertising
  • Subscribe
  • Privacy
  • T&Cs
  • Disclaimer

Follow Us on Social Media

© Peer2Peer Finance News 2020
• Additional design by