Business development · 24 May 2017

Nine in ten small business leaders expected to vote in general election

polling booth
Small company owners are determined to cast their votes

Some 90 per cent of senior UK small business decisions makers intend to vote in the general election, despite predictions of a far low voter turnout across the UK.

Research from challenger bank Aldermore has revealed that small to medium-sized business leaders are among the most likely people to vote in the snap UK general election on 8 June.

Despite the figures, when asked in a survey, some 40 per cent of small business owners still thought the outcome of the general election would have little impact on their future business prospects.

Whereas 15 per cent of senior small business decisions makers said they thought the general election result would negatively impact their business, 32 per cent anticipated a positive outcome, that would boost their firm.

Commenting on the survey results, Aldermore managing director Carl D’Ammassa said politicians needed to appeal to UK businesses now more than ever. “Political parties shouldn’t underestimate the importance of the small business vote on 8 June.

“Voter turnout is expected to be low in general, so it makes sense for the parties to appeal to SME owners who are by and large determined to cast their votes,” he added.

When asked about what they’d most like to see from a new government after the general election, a third of small business leaders cited simplification of the tax system and the financial accounts submission process as their main priority.

Cutting red tape for small firms, and increased help in the form of government-backed loans and schemes, closely followed as major priorities, with 30 per cent and 22 per cent of respondent business owners respectively urging the new government to do more to help in these areas.

D’Ammassa went on to say: “Given the significant contribution to the UK economy made by small businesses, such support will be particularly important as the country makes its preparations to leave the EU. We are obviously keen that the new Government creates the conditions that SMEs need to thrive.”

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Fred Heritage was previously deputy editor at Business Advice. He has a BA in politics and international relations from the University of Kent and an MA in international conflict from Kings College London.

Business development