Looking at the statistics, small businesses (4.5 million of them) make up the lions share of employers in the UK employing almost 14 million people, and the vast majority of Britons want the government to make more funds available to SMEs, trusting them to be the way to recovery, get the economy moving again and providing employment opportunities.
It’s not just business leaders who know the value these type of businesses like ours provide, over 70% of British citizens believe we should boost the UK’s economy by making bank funds available to small and mid-sized businesses according to a recent nationwide survey. This is a vote of confidence for the UK’s business sector with the majority of people saying they trust small to mid-sized business owners more than big companies or politicians. Most people questioned are in favour of government plans to set up a state-backed small business bank, while only a small percentage favoured giving more money to bigger firms.
Over 70% of people questioned would also prefer to work for a small business rather than a big firm, stating that better job satisfaction and being able to play a worthwhile role in the firm, being consulted on decisions and working with the business owners, as some of the major reasons.
The government has said it will create a new state bank to make loans more available to small businesses to help get the economy moving again. Let’s see if they stick to their word.