Poll reveals small firms ‘disappointed’ by Budget

Many small firms have been left disappointed by last month’s Budget, according to a new poll by the Federation of Small Businesses (FSB).

Most notably, entrepreneurs expressed concerns over the Chancellor’s plans to raise fuel duty by 2p per litre later this year.

Of the 300 firms surveyed, almost eight out of ten said the proposed increase would have a negative impact on their business, with 71% estimating that it would cost them up to an extra £30 per week.

Almost 70% of participants claimed the Budget had failed to support small firms, while over a third said it would ‘quite negatively' affect their business.

The FSB’s National Policy Chairman, John Walker, said: ‘Small businesses are the engine room of the British economy, but they have been choked by the Budget with increases in fuel and alcohol duty incurring extra costs and little to help small firms struggling with cashflow.

‘This survey shows that the Chancellor's Budget could have gone much further to support small firms and we will be meeting with officials to ensure they do more to help small firms create and retain jobs and can survive and grow in these difficult times.’

However, some of the Government’s other measures were received more favourably. Over a quarter (29%) of business owners welcomed investment in building projects and the extension of the scheme for loss making companies to reclaim tax on profits.