Small businesses ‘cautious’ since chancellor’s budget

8/8/17

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QE Discussion at Trafalgar Gate, Portsmouth.

Sam Lockwood, QEC Maintenance Engineer at the Amutiny Centre.

Photography by Habibur Rahman PPP-170908-002128006

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SMALL businesses in the south are cautious about their prospects in the weeks since this year’s budget.

That’s according to new research commissioned by Safestore.

The storage firm said 51 per cent of small business decision makers expect their business to ‘stay about the same size’.

But the same report found that 29 per cent predicted their businesses would grow in the next 12 months.

The research assessed 500 UK small business decision makers’ perceptions of the budget and the implications for small business.

The company says it also shows that more needs to be done to help small businesses when it comes to the important job of cutting down their costs.

The data showed 57 per cent of those surveyed in the south said the measures announced by Chancellor George Osborne would make no difference to their growth prospects.

And 25 per cent of businesses surveyed actually think the government’s measures will make it harder for them to grow.

Businesses were also asked what they thought were the most important issues that affected them and their prospects. Business regulation came out as the issue most important.