Downing Street

41% of SMEs expected to vote Conservative

A survey by peer-to-peer lending platform Funding Circle indicates that small businesses are three times more likely to vote Conservative than Labour.

Some 41% of small businesses surveyed said they would vote Conservative in the general election, followed by Labour with 13%, Liberal Democrats on 9% and UKIP on 3%.

The survey found that 40% of small businesses believed that tax was the most important policy area, followed by Brexit (26%).

Funding Circle’s research also found that most small businesses are optimistic about their future turnover prospects despite the current uncertainty, with nearly 70% saying they expected it to increase within the next 12 months.

Half those expecting a rise in turnover believed it will increase by between 6-20%.

Only 6% of respondents said they expected their turnover to decrease.

James Meekings, co-founder and UK managing director at Funding Circle, said: “It is heartening to hear that small businesses are optimistic about the next 12 months, despite the uncertainty caused by Brexit and a snap general election.

“Future UK prosperity depends on small businesses as they provide much-needed job creation and economic growth.

“This is why access to finance is crucial.”

More than half (55%) of respondents said they plan to hire at least one new full-time member of staff over the next year.

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