Will the general election have an effect on small businesses? » SMEInsider

Will the general election have an effect on small businesses?

A survey of 1500 SMEs and start-up owners revealed that a strong majority (66 per cent) of them believe that whatever the outcome of the election, it will not affect their decision to start a new business or affect the success of the existing ones.

The extensive research, carried out by Stop Procrastinating, a research and productivity product website, revealed that business owners believed that the success of their business is more down to their own efforts, skills and work ethic rather than any political party action.

Just under three-quarters of business owners (73 per cent) said neither Conservatives nor Labour could have prevented the economic recession and the credit crunch.

Interestingly, the majority of small businesses (65 per cent) see themselves as an integral part of the UK economy and therefore believe that no government would pass legislation that could undermine them.

45 per cent who said their businesses prospered during the credit crunch despite the government not easing lending in that period.

12 per cent actually said they started their business as a direct consequence of losing their job during the economic downturn.

Over 75 per cent believe that the growth and success of their businesses was down to their hard work and work ethic.

The most interesting data revealed that small businesses believed that internet has played a crucial part in growing businesses.

Nearly half (46 per cent) believe the internet reducing expenditure and the rise of e-commerce played a more important part than any political party.

This is echoed by 68 per cent that believe that e-commerce was critical in helping businesses become more successful.

“Given the difficult economic conditions in the recent past, business owners have come to the conclusion that a combination of new technology, such as more effective ways to market their products and services via the internet, and their own hard work and business acumen have been more important,” said Mike Rollins, director of productivity at Stop Procrastinating.