June 7 2016.

Almost two thirds of businesses claim that the lack of skilled workers available and constant alterations to tax and regulatory requirements are adding significant pressures to their business.

As 74 per cent of businesses are planning for growth over the next 12 months it is vital that business owners keep abreast of prospective tax and regulation, says Rebecca Combes, head of business tax at the Southampton office of Smith & Williamson, which commissioned the Enterprise Index, a survey of business owners.

'A complex and uncertain tax system adds a challenge to ‘scale-up’ businesses. I don’t think tax is at the forefront of people’s mind when growing their business, however, it can present frustrating obstacles and hurdles and may cause some loss of momentum on the growth curve of a business,' she adds.

The closure of the UK government’s Business Growth Service (BGS) which supported small businesses seeking to grow has made for difficulties, Smith & Williamson says.

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