Survey reveals growth expected but help needed

Picture: Malcolm Wells

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A SURVEY conducted by a firm of business accountants in Portsmouth suggests that more than half of local businesses expect to see growth in the next 12 months.

The survey, by TaxAssist Accountants, also found that more support from the government and the banks is needed.

While 57 per cent expect to grow, 85 per cent of the city’s firms surveyed expect to feel no benefit from the additional £10bn of loans pledged by banks.

More than 60 per cent of those polled believe laws and regulations binding small businesses, including those relating to employment and grants, need simplifying.

And only 23 per cent think they will be in a position to recruit new staff during the coming year.

The survey was undertaken in partnership with MP Chloe Smith, and the opinions will be taken to the House of Commons to support call for changes.

James Self, from TaxAssist Accountants, said: ‘We have worked closely with the local business community for many years, so are delighted to have been asked to support this campaign and, hopefully in the long run, help local owner-managers with the considerable challenges they face.’