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Monday, 24 August 2015

Which Political Party Offers The Most Support For SMES?

Image Source: Mark Pack
When it comes to the political divide there’s one thing that all entrepreneurs and SMEs can agree on: extra government support is needed. 

The Entrepreneurs Network recently carried out an annual poll of 100 MPs, which shows that Labour and Conservative MPs have very different views on how best to support British entrepreneurs and SMEs.

Growth Business highlighted the key findings from the report:
  • ‘It suggests almost two-thirds (63%) of Labour MPs believe increasing grants and loans for entrepreneurs would be the best way to support them’
  • Among Conservative MPs, ‘a regime of tax cuts, including slashing business rates and corporate tax, is the most popular policy for driving entrepreneurial growth. Almost all (89%) from the ruling party are in favour of this approach’
  • ‘The issue that splits the house more than any other is the potential impact of the UK leaving the EU – or Brexit. More than half (58%) of Conservative MPs believe that this would be a positive move for entrepreneurs – whereas only 1% of Labour MPs feel the same way’
MPs Are Vocal
  • Growth Business quotes the Entrepreneurs Network Director Philip Salter as saying he was encouraged to see that 'MPs are increasingly vocal about supporting Britain’s entrepreneurs’
  • ‘But he added he found MPs respective view on the EU the most enlightening – especially Labour MPs’ strong support for the EU.’
Ill-Informed About Current Programmes

Growth Business says both sides seem equally poorly informed about current support structures
  • ‘More than one-third of Conservative MPs (38%) have not heard of the Seed Enterprise Investment Scheme (SEIS). And a further 18% don’t feel they know enough’ to comment
  • Labour MPs, despite presenting as broadly supportive of introducing more grants and loans, are ‘also similarly ignorant of current government programmes. More than half (61%) were not aware of Innovate UK – a series of competitions in which £536m of government money is up for grabs’
See the full piece on Growth Business.


360ict provides managed IT services and emergency IT support for SMEs in central London and the south-east, including Bromley and Croydon. For more advice on gaining competitive advantage as a mid-sized company, give us a call on 0208 663 4000 or head to our website.

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