September 27 2016.

An international study published by specialist global insurer Hiscox reveals widespread dissatisfaction with government support for SMEs; in the UK the figure of entrepreneurs backing government policies has fallen from 45 per cent in 2015 to 35 per cent for the current year.

The eighth annual Hiscox DNA of an Entrepreneur Report finds that more than half (51 per cent) of UK small business owners or managers agree with the statement ‘Our taxation system does not favour someone wanting to set up their own business’, up from 47 per cent a year ago.

Small businesses give a clear view on what governments could do to stimulate growth among small companies. Respondents in all six countries again picked reduced direct taxation as their number one wish.

In the UK, the other items on the wish list are simpler accounting rules, stimulation of lending, reduced health and safety laws and subsidised rents on starter premises.

Lack of government support is a key concern; in the UK, the proportion agreeing that their government is supportive has collapsed from 45 per cent to 35 per cent.

Of these, just a third (33 per cent) expect the situation to get better in the coming five years, down from 61 per cent the previous year.

For the full story at CLICK HERE.