Government Neglecting SME Needs

Entrepreneurs in the UK feel more neglected by the government than their counterparts overseas, research finds.

Nearly four out of five business owners (79 per cent) feel that the UK government neglects and ignores their interests compared with three quarters (75 per cent) globally, according to the Regus Entrepreneurial Environment Index.

The UK ranks below the world average on the index, which assesses the ease of doing business in each country, with a rating of 89 points compared with the global median of 100 points.

The index is based on the results of a survey that asked more than 5,000 entrepreneurs and small and medium-sized enterprise (SME) owners in 78 countries about recent revenue and profit trends, business concerns and recent causes of stress.

Highlighting a lack of access to credit for SMEs, 72 per cent of respondents in the UK say banks should be forced to lend more to entrepreneurial ventures and small businesses. However, this was lower than the global average of 74 per cent.

In other results, the majority of UK entrepreneurs (87 per cent) maintain that the government should back venture capital funds to support entrepreneurs and their business initiatives, while 74 per cent say penalties should be enforced for late payment of invoices. Both figures are around the global average.

Source: http://www.growthbusiness.co.uk/news/business-news/1305238/government-neglecting-sme-needs.thtml

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