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Retailers Unconcerned by Upcoming Budget
Listed under: News
Published: Tuesday, March 23, 2010
Only one in five small business owners believe this week's budget will have any real impact on their enterprises this year, with just 22% factoring it into their plans for 2010, according to a recent report from business support group, The Forum of Private Business (FPB).
The survey, which reveals that only 19% of small business owners think the results of this year's general election will have an impact on their plans in 2010, shows that day-to-day concerns, such as sales and turnover, will be the most pressing issues dominating retailer's minds this annum, with 77% citing it as one of their biggest concerns.
Worries about profitability, cash flow and staffing will also be high on the agenda, accounting for 71%, 69% and 60% of business owners top considerations respectively.
Commenting on the results, Thomas Parry, research manager at the FPB, says, “I think there’s a certain amount of cynicism about this year’s budget and this research reflects that. A lot of business owners are simply presuming that there’s going to be another report straight after the election so they’re not paying it too much attention.”
He adds, “The things they are concerned with at the moment are the more pressing issues associated with running a business in a struggling economy. While I think there has been a noticeable increase in confidence among small firms over the past 12 months, things like cash flow, employment law and business rates are still at the forefront of our members’ minds.”
The survey, which reveals that only 19% of small business owners think the results of this year's general election will have an impact on their plans in 2010, shows that day-to-day concerns, such as sales and turnover, will be the most pressing issues dominating retailer's minds this annum, with 77% citing it as one of their biggest concerns.
Worries about profitability, cash flow and staffing will also be high on the agenda, accounting for 71%, 69% and 60% of business owners top considerations respectively.
Commenting on the results, Thomas Parry, research manager at the FPB, says, “I think there’s a certain amount of cynicism about this year’s budget and this research reflects that. A lot of business owners are simply presuming that there’s going to be another report straight after the election so they’re not paying it too much attention.”
He adds, “The things they are concerned with at the moment are the more pressing issues associated with running a business in a struggling economy. While I think there has been a noticeable increase in confidence among small firms over the past 12 months, things like cash flow, employment law and business rates are still at the forefront of our members’ minds.”
