Energy News – 24/02/2017
What’s been making headlines across the energy world this week? We round up the big stories from the las...Read More
According to a new study published less than three months before the general election, Britain’s small businesses have issued their manifesto for change to the leading political parties.
The study published today by SwitchMyBusiness.com, gives a snapshot of the struggles facing Britain’s small businesses, from butchers to internet start-ups, by asking them for their views on everything from late payments to workplace stress.
SwitchMyBusiness.com is a compare and switch service supporting small business owners and finding them the best energy prices for their business.
According to the research, a huge 93% of businesses want change from a new government and election when the country goes to the polls on 7 May 2015.
Figures from the Federation of Small Businesses show that at the start of 2014, small firms accounted for 99.3 per cent of all private sector businesses in the UK.
Yet, a total of 40% of respondents of this latest study do not believe David Cameron understands their needs, with the Tories under increasing pressure to deliver for SMEs ahead of the general election.
A total of 34% want a reduction in business rates, while 21% want government help with utility bills, and 25% support the introduction of a loan scheme similar to the student loans scheme where businesses have a minimum period of 3 years before they need to start paying the loans back.
Some 22% want access to affordable superfast broadband in more areas of the UK, while 25% want harsher penalties for businesses that pay late.
In November, the government launched a consultation proposing that large and listed companies should be required to report statistics such as the average time it takes them to pay suppliers.
The SwitchMyBusiness.com study also found cashflow is the biggest problem for small businesses, with nearly a third saying they would look for an additional job to make ends meet if no changes are made to improve conditions for small businesses.
Being paid late is the second biggest problem for small businesses, with 31% saying it causes them issues, compared with 18% who said workplace stress was impacting their business.
Alarmingly, a total of 24% of small business owners feel that their business would survive less than six months, based on the current economic climate.
Fourteen per cent cited ability to pay suppliers and the cost of business rates as having a negative impact.
The study also found that of those businesses turning over less than £100k a year, 41.4% have skipped paying themselves more than once, while 27% of businesses with a turnover of between £100k and £1 million have also not paid themselves on many occasions.
Commenting on the research findings, CEO of SwitchMyBusiness.com Ivan McKeever said: “The picture from UK small business owners is clear; they want change from the government and they want more help. Small businesses are the forgotten younger brother of the big corporates and we want them to have a voice and get it heard. This is why we’ve put together the small business manifesto so as we head into election ‘promise’ season, the political parties will stand up and take notice.”
To coincide with the launch of the #whatbizwant manifesto, SwitchMyBusiness.com has also launched a competition for small businesses to win £300 in vouchers to be spent at Time etc for business admin support.
"Jessica Purnell was great, she was helpful and everything was easy. I have saved £150 per month! many thanks Jess :-)"This review was posted by Melanie Baker on the 23rd of February 2017
Thank you Jess Purnell!
"Jess really helped us out with switching suppliers... she wasn't pushy at all and the service was great. Thanks again!"This review was posted by Becki on the 23rd of February 2017
Thanks for your help Mark Weeks and Switch My business
"I would like to thank Switch My Business and particularly Mark Weeks for the ease of switching and saving me money! I can highly recommend them. Thanks again Richard Blake"This review was posted by Richard Blake on the 22nd of February 2017
"Aaron sorted out a new electricity deal for my church, enabling us to make good savings. We have now received confirmation of our new 3 year plan.During our telephone conversations Aaron was always very polite and efficient. Dawn Marskell"This review was posted by Dawn Marskell on the 21st of February 2017
Great help switching
"First time I have ever done an energy supplier switch, it seemed a bit daunting but the way EDF has rocketed our industrial energy bill I had no option, Bea Luseni guided me through the process and took all the worry away, many thanks well done"This review was posted by Horatio on the 17th of February 2017