It is estimated that nearly 9 million women and 8.1 million men did not vote in the last election, with all parties looking to create policies to appeal to these undecided voters. This could mean trouble for businesses that already have to plan for increased overheads due to the rise in minimal wage that begins in October.
Labour is regularly accused of anti-business rhetoric but is trying to break this trend by promising cuts to business rates for small firms and the establishment of a new investment bank. The Conservative Party has outlined similar policies to support small to medium businesses, but with their pledge for a public referendum for continued EU membership this will create uncertainty for business.
The Liberal Democrats have focused their business policies on growing the number of new job and apprenticeship opportunities. Whoever comes into government will need a clear and unwavering focus on small businesses, how they will be financed and supported in growing, how they will play a key role in reducing the deficit which is the incoming government biggest challenge. With 99.3% of the UK’s 4.9m businesses being small business enterprises, generating revenues of £3,3bn and employing 24.3m people, this is not something that can be ignored.
Christie Finance continues to receive good levels of interest from new and existing clients looking to purchase, refinance and further develop their own businesses and we predict interest to remain high during the election campaign, as the continuing improvement in the UK economy and lending landscape is strong enough to see off any short term challenges brought to bear by any of the political parties.