SMEs want Government action

In a new survey by the Forum of Private Business it was found that 79% of all the SMES in the UK believe that the Government should focus on reducing the size of the deficit.

However, out of those only 47% stated that fairer taxes are the priority, with a small 11% asking that public procurement be offered to the public in a more accessible manner.

The second most popular choice was increasing regulation that surrounds utility companies and banks with 74% of all business owners believing that this would help the current situation, with another 55% asking that training incentives be outlined by the Government.

Phil McCabe, the forum spokesman, stated that Welsh firms can see the need for the UK to tackle its large amount of debt and back all Government efforts to address this fact.  However, at the same time, McCabe stated that SMEs are concerned that they are not sacrificed as the Government attempts to reduce its cost due to the fact that SMEs are the key components of employment and growth across the country.

He added that business owners would also appreciate seeing tighter regulation of utility and bank companies.

In terms of local improvement, SME owners supported the focus on transport and public transport with 47% responding this is their greatest local concern.  Another 37% felt that local taxation needed to be reduced in order to encourage the development and growth of SMEs in Wales.  Crime prevention fell in third place with 33% worried about the effects of crime on their business.