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Small businesses need ‘more government support’
Small firms do not feel that government measures have succeeded in helping their businesses, according to a survey by The Federation of Small Businesses (FSB).
The survey of over 4,000 SME owners revealed that recent state intervention, such as the reduction in VAT, bank lending guarantees and a pledge to reduce the amount of time government organisations pay their invoices has had little impact.
A mere 8% of small business owners reported that their banks were making the Enterprise Finance Guarantee available to them and over 50% said they doubted that the Government scheme would compel the banks to start lending again.
In a separate FSB poll 97% of small businesses said the VAT cut to 15%, as announced in the Chancellor's Pre-Budget Report in November, has had no impact on their trade at all.
"These startling figures show there is still more to be done by government and the banks to ensure businesses can survive in this economic climate," said John Wright, FSB National Chairman.
"Small businesses are doing all they can to survive the recession but they need better support from the Government, the banks, and the public and private sector."
Post Date: February 9th, 2009
The survey of over 4,000 SME owners revealed that recent state intervention, such as the reduction in VAT, bank lending guarantees and a pledge to reduce the amount of time government organisations pay their invoices has had little impact.
A mere 8% of small business owners reported that their banks were making the Enterprise Finance Guarantee available to them and over 50% said they doubted that the Government scheme would compel the banks to start lending again.
In a separate FSB poll 97% of small businesses said the VAT cut to 15%, as announced in the Chancellor's Pre-Budget Report in November, has had no impact on their trade at all.
"These startling figures show there is still more to be done by government and the banks to ensure businesses can survive in this economic climate," said John Wright, FSB National Chairman.
"Small businesses are doing all they can to survive the recession but they need better support from the Government, the banks, and the public and private sector."
Post Date: February 9th, 2009
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