British public call for more support for small businesses

By
Dan Martin
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0
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The British public have “overwhelming support for small businesses”, with over three quarter saying they deserve additional support from the government and local authorities.

According to the survey by Axa, 77% want to see more small businesses in their local area, with bakeries (53%), farm shops and greengrocers (both 41%) the independently-owned businesses people most desire.

77% also said small businesses should get more government backing. Reducing red tape (41%), simplifying the tax code (35%) and lowering National Insurance Contributions (34%) are among the ways people think small

Jon Walker, CEO at Axa Commercial, said:

“It’s great to see there is so much public support for small businesses and to know people are keen to help them through tough economic times.

“Small businesses are the backbone of the UK economy, making up more than 99% of all UK businesses, so it’s important they receive support to grow and flourish.

“When small businesses flourish, our high streets and local communities feel the benefit. People value their local communities so implementing measures to support small businesses is a positive step.”

Almost two thirds of adults polled felt UK high streets in the UK have generally declined in recent years, with 66% blaming competition from big online marketplaces, as well as the cost-of-living crisis (63%) and high business rates (62%).

Six in 10 said small businesses make the area more attractive and liveable, and 57% feel they add character.

With Christmas festivities in full swing, Londoners are the most likely to shop more at small companies during the festive period (59%), with Scottish shoppers second (52%).

Those in the South West are less supportive, with only 26% saying they shop more with small firms during the Christmas period.

Key support the public thinks small businesses should receive:

  1. Lowering business rates
  2. Slashing energy bills
  3. Lowering corporation tax 
  4. Reducing red tape 
  5. Simplifying tax so it’s easier to understand
  6. Lowering National Insurance Contributions
  7. Offering grants to help businesses become more eco-friendly
  8. Providing free advertising space to raise awareness of local businesses
  9. Offering better rates on loans
  10. Taxing foreign businesses the same as UK businesses