In a recent report carried out by banking group Aldermore, UK entrepreneurs have called on the government to supply them with ‘more support’.
Aldermore found that 80% of entrepreneurs believe that government is not doing enough to support small businesses, whilst 71% of firms are not currently taking advantage of government support. According to the report, 36% are not even aware of the support that exists.
43% of those surveyed stated that rigorous enterprise education and training would be useful, whilst 53% said that a cash bonus would be helpful for those seeking to start up in business.
Meanwhile, 42% of entrepreneurs would like ‘better tax incentives’, and 39% require improved rates on business loans.
Ewan Edwards, Head of Savings at Aldermore, commented: ‘Governments rightly recognise the key role that small businesses play as an engine of the economy – they represent five million enterprises, employing over 15 million people in the UK.
‘But our findings reveal that the current system of support suffers from needless complexity, low awareness and low take-up across the board. We believe the government needs to take a fresh approach with better targeted support and better publicity to increase awareness of what is available.’