Three in five small firms feel neglected by Labour – survey

THREE out of five small business owners feel neglected by the Labour government, a survey has revealed as an increasing number of firms voice concerns about their struggle to survive.

- SAMUEL NORMAN

Small and medium-sized enterprises (SMEs) are urging Westminster to implement additional measures to support businesses, with 57% fearing they may not last the next year - a significant increase from 50% last year.

These worries, disclosed in Virgin Startup's latest Founder Barometer report, emerge amidst escalating economic pressures for UK businesses.

The cost-of-living crisis was identified as the primary challenge for SMEs at 33%, although this is down from 52% the previous year.

Meanwhile, tax rates were a concern for one in five businesses.