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Retailers Left Disappointed by Chancellor
Listed under: News
Published: Monday, March 29, 2010
Just over nine out of ten small business owners were less than impressed with the recent Budget report, with just five percent believing the Chancellor's proposals would help boost the economy over the next 12 months, according to a recent poll from the business support group, The Forum of Private Business (FPB).
The findings, which reveal that up to 87% of businesses remain unconvinced that Mr Darling's measures will have any real impact on consumer confidence, show that a whopping 38% of those surveyed would rate the proposals suggested in this month's Budget report as 'poor', with only ten percent describing it as 'good' and 52% branding it 'average'.
Interestingly, the survey also revealed that 70% of respondents expected a more realistic Budget to be delivered after the next general election, with 45% saying the Chancellor's current plans were likely to have a negative impact on employment overall.
However, not all enterprises were as pessimistic about the report, with just under nine percent saying they believed it would have a positive effect on their takings in the short-term and a further 19% saying it would be likely to improve cashflow support and business investment over the next few months.
Commenting on the survey, Phil Orford, chief executive of the FPB, says, “This research appears to support our initial assessment of the Budget – overall, it fell far short of what we were hoping for and there was a sense that it was very much for the election.
“Judging from the feedback our members have given us, smaller firms don’t feel that the Chancellor laid the foundations for a better environment in which to do business. At the same time, they’re not taking the Budget too seriously because of the imminent election,” he explains.
“However, there were some specific measures included, which should help some SMEs – things like the creation of a credit adjudicator for small firms, the extension to HMRC’s Time to Pay scheme and new targets aimed at helping small businesses get more public sector contracts,” he adds. “As long as they are administered properly, these schemes should provide tangible, on-the-ground support to smaller firms and the Forum’s members appear to appreciate that.”
What did you think of the Chancellor's Budget report? Email your thoughts to .(JavaScript must be enabled to view this email address)
The findings, which reveal that up to 87% of businesses remain unconvinced that Mr Darling's measures will have any real impact on consumer confidence, show that a whopping 38% of those surveyed would rate the proposals suggested in this month's Budget report as 'poor', with only ten percent describing it as 'good' and 52% branding it 'average'.
Interestingly, the survey also revealed that 70% of respondents expected a more realistic Budget to be delivered after the next general election, with 45% saying the Chancellor's current plans were likely to have a negative impact on employment overall.
However, not all enterprises were as pessimistic about the report, with just under nine percent saying they believed it would have a positive effect on their takings in the short-term and a further 19% saying it would be likely to improve cashflow support and business investment over the next few months.
Commenting on the survey, Phil Orford, chief executive of the FPB, says, “This research appears to support our initial assessment of the Budget – overall, it fell far short of what we were hoping for and there was a sense that it was very much for the election.
“Judging from the feedback our members have given us, smaller firms don’t feel that the Chancellor laid the foundations for a better environment in which to do business. At the same time, they’re not taking the Budget too seriously because of the imminent election,” he explains.
“However, there were some specific measures included, which should help some SMEs – things like the creation of a credit adjudicator for small firms, the extension to HMRC’s Time to Pay scheme and new targets aimed at helping small businesses get more public sector contracts,” he adds. “As long as they are administered properly, these schemes should provide tangible, on-the-ground support to smaller firms and the Forum’s members appear to appreciate that.”
What did you think of the Chancellor's Budget report? Email your thoughts to .(JavaScript must be enabled to view this email address)
