Britain’s entrepreneurs are pessimistic about the outcome of Wednesday’s Budget, a report has found.
The report, by Bank of Scotland Business Banking, found just 7% of small business owners believe the Budget will bring good news.
Almost half of the entrepreneurs questioned said they believe the Budget will have a negative effect on small business, while just over 40% said it ‘won’t make any difference’.
Almost two thirds said they feel the government is targeting small businesses as a means of raising tax revenue, and nearly 70% said they believe the tax regime is ‘unfair’.
The Bank of Scotland said the figures betrayed the ‘uneasy’ relationship between the government and small business.
Just one in seven entrepreneurs believe the government is aware of their needs, with over 93% adding that they feel more should be done to support small business.
Ivan Matviak, head of Bank of Scotland Business Banking, said the research showed Britain’s entrepreneurs ‘clearly’ have little faith in the government’s ability to deliver a budget that will support and promote enterprise.
“Having been on the receiving end of last year’s incremental tax increases, it’s not surprising to see that small businesses feel particularly hard done by when it comes to the tax regime,” he said.
“If small businesses are to remain the lifeblood of a growing economy, then it’s up to the government to deliver some good news.”
© Crimson Business Ltd. 2008
