One fifth of small business owners believe that this week’s Budget will significantly affect their companies according to research by the Forum of Private Businesses (FPB).
The survey found that only 22 per cent of businesses are predicting the Budget changes and factoring them into their plans for the next year. What’s more, just 19 per cent believe the General Election will have any impact on their business.
‘I think there's a certain amount of cynicism about this year's Budget and this research reflects that. A lot of business owners are simply presuming that there's going to be another budget straight after the election so they're not paying it too much attention,’ said Thomas Parry of the FPB.
‘The things they are concerned with at the moment are the more pressing issues associated with running a business in a struggling economy. While I think there has been a noticeable increase in confidence among small firms over the past 12 months, things like cash flow, employment law and business rates are still at the forefront of our members' minds,’ he added.
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