Starting a new business? Get 40% off our accountancy services for 3 months! 😀

x

According to research carried out by Bibby Financial services, 60 percent of businesses in the UK believe the right support to encourage growth of the economy isn’t being provided by the government. Of the 1000 businesses which were consulted during the study, only eight percent think the government have implemented sufficient measures to prevent a double-dip recession in 2012.

The report has revealed that 40 percent of businesses surveyed would like to see VAT reduced by 2.5 percent next year, which would be a huge benefit to Small and Medium Enterprises. Nearly a third of respondents believe that scrapping the 50p tax rate will improve conditions for trading. Over a quarter of respondents, 26 percent, think that enforcing banks to give easier access to small business funding would provide greater support to companies.

According to the UK chief executive of Bibby Financial Services, Edward Rimmer real concerns have been highlighted by the survey results, about support for businesses and the state of the economy as businesses look towards 2012. Rimmer stated that the government taking action on issues which affect businesses most, like tax would have a tangible effect. He said:

“Our research is the biggest survey we have undertaken this year to gauge the mood of small and medium-sized business owners after a very difficult 12 months. And looking ahead to next year it is clear there is great uncertainty among the business community as well as a lack of faith in government plans to take the economy forward.”

A number of business owners who took part in the survey, said that information about funding was minimal and micro companies and sole traders are among the worst affected.

guest
0 Comments
Inline Feedbacks
View all comments

Read more posts...

Umbrella Companies for Self-Employed Contractors

When you set up in business as a contractor you might either work as a sole trader or as a limited company….

Read More

Get Ready for Small Business Saturday UK 2022

Small Business Saturday started in the US in 2010, on the first Saturday following Thanksgiving. It aims to encourage shoppers to consider…

Read More

Architects and Tax

Architecture is a highly diverse sector when it comes to tax. It’s partly down to the type of businesses that carry out…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.

Bookkeeping

You only need this service if you want us to complete the bookkeeping on your behalf.

Would you prefer to complete your own bookkeeping?

Yes
No

Call us on 020 3355 4047 if you’re not sure.