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Entrepreneurs lack government support for business development

65% of entrepreneurs feel that the available government support for businesses isn’t sufficient.

The latest Enterprise Index research, carried out by accountancy firm Smith and Williamson, found that entrepreneur confidence in government support for businesses has decreased over the past twelve months.

The report, which collects the opinions of 200 entrepreneurs quarterly, attributed the decrease to the uncertain political climate. Almost three quarters of those surveyed revealed that the current state of UK politics is negatively affecting their company.

Last year, entrepreneurs showed an increase in positivity about government support for businesses. It appeared that the government had recognised the benefits that independent companies provide to the UK economy, and were putting processes in place to improve their day to day running.

However, they now feel as though any progress has paused, with bad strategy and planning blamed. The majority of the work is being carried out by private organisations, which don’t have as much authority as the government.

The report also found that entrepreneurs are still concerned about the effects of Brexit on their business. Almost two thirds don’t believe that the economy will improve over the next year, and the lack of government support for business development may harm UK companies.

Brexit has been causing financial worries in businesses of all sizes, but it is believed that smaller companies will feel the greatest impact. This is due to their limited funding, and their smaller cash-flow cushion to rely on in difficult times.

Quick Capital are dedicated to supporting entrepreneurs and independent businesses. We provide a flexible funding option, proving independent businesses with the money they need to grow.

If your business needs a cash flow boost, get in touch with one of our friendly advisors today!

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